OPEC's Badri says oil may have hit floor, warns of future spike

Oil prices at current levels may have reached a floor and could move higher very soon, OPEC's secretary-general said on Monday, his first public comment that oil's second-biggest decline on record may have run its course.

Abdulla al-Badri also warned of a risk of a future price spike to $200 a barrel if investment in new supply capacity is too low.

"Now the prices are around $45-$50 and I think maybe they reached the bottom and will see some rebound very soon," Badri told Reuters on the sidelines of a conference at Chatham House .... http://www.reuters.com