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The president of the Organization of Petroleum Exporting Countries, Purnomo Yusgiantoro, said global political uncertainties and concerns likely account for US$10 to $15 per barrel, or up to one third, of current world oil prices. "If the (market) was trading on fundamentals, the price would not be as high," Purnomo, who is also the Indonesian energy minister, told reporters at the World Energy Congress in Sydney. "What we are seeing is that a political premium is adding US$10 to 15 per barrel," he said.
THIS IS JUST ANOTHER RESON TO RAISE THE COST PER BARREL. IF WE DIDN'T HAVE THE ELECTIONS IT WOULD BE SOMETHING ELSE. THEY SAY WE ONLY RECEIVE 10% OF OUR OIL FROM OPEC- I'M SURE WE CAN FINE 10% FROM NON-OPEC SUPPLIERS, AND TELL OPEC TO GET LOST.