It’s not very comforting that $200 per barrel is even being discussed but unfortunately, the OPEC president isn’t the only person kicking this idea around.

He added: “The prices are high due to the fact of the recession in the United States and the economic crisis which has touched several countries, a situation which has an effect on the devaluation of the dollar, and therefore each time the dollar falls one percent, the price of the barrel rises by $4, and of course vice versa,” he was quoted as saying in brief remarks to journalists on Sunday.

He added that: “If this (the dollar) strengthens by 10 percent, it is probable that (oil) prices will fall by 40 percent.”

If the U.S. economic situation improved from now to the end of the year “that would help the market to stabilize.”