FINANCIAL NEWS

Kuwait expects oil prices at $75-$90

21 Apr 2010

(MENAFN) Kuwait’s Oil Ministry expects oil trading in the near future to be in the range of $75 to $90, Reuters reported.

Speaking at Kuwait’s parliament, the Oil Minister, Sheikh Ahmad Al-Abdullah Al-Sabah, said that a price in the range of $75 to $90 is considered reasonable.

Sheikh Ahmad said that the Organization of the Petroleum Exporting Countries (OPEC) would consider whether to raise the supply quota if oil passed $100. The price hit a high of over $87 a barrel earlier this month.

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