Oil prices to remain high until 2015: former OPEC chief

"It is difficult to predict how long oil prices will remain high. But investment made (in the oil sector) in 2003 or 2004 will probably start paying off and have a stabilizing effect on oil prices in 2015," former mining minister and OPEC secretary general Soebroto said in an interview with ANTARA News aboard a Riyadh-bound plane on Wednesday.

Soebroto was on his way to the Saudi capital to receive an award from Saudi King Abdullah for having successfully changed the West`s perception of OPEC (Organization of the Petroleum Exporting Countries) as an oil producers cartel that was constantly trying to push oil prices to the highest possible level and making the organization more accommodative toward oil consumers` interests.