ALGIERS, 29 November 2004 — Crude oil prices are now at a more normal level but prices will stay at around at least $30 per barrel next year due to strong global demand, Algeria’s Energy and Mines Minister Chakib Khelil said yesterday. “We have concluded that speculators have pulled out of the market. This explains why prices are at a normal level,” Khelil told reporters. “Prices for 2005 will be around or above $30.” Algeria is among the smaller members of OPEC but is producing around double its formal OPEC quota of 750,000 bpd.