In response to the fact that despite OPEC's recent production cut oil prices are still falling on the markets, OPEC Secretary General al-Badri says that oil markets still need time to adjust to the production cuts. However, al-Badri also warned that if prices do not begin to rise soon, more action will be taken. Wild fluctuations in oil prices have driven many investors away and that is leading to delays and cancellations in many development projects. al-Badri stated that these fluctuations are not good for producers, investors, or consumers in the short and long terms. OPEC's decision to cut production has drawn criticism in the wake of the current global economic crisis, but al-Badri stated that, "we can not bail you out." In the near future, oil prices will have to stabilize or OPEC will probably decide to cut production further.
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