Kuwait satisfied with current oil prices

01 Nov 2010

(MENAFN) Kuwait, one of the world’s top producers of crude oil, has expressed its satisfaction at the current level of oil prices, $70-85 per barrel, Kuna reported.

Oil prices are likely to remain unchanged till the end of this year, said Kuwait’s Minister of Oil and Information Sheikh Ahmad Al-Abdullah al-Sabah in a statement.

Kuwait’s current oil prices are still within the OPEC target, between $70 and $80 per barrel.

The north Gulf country, which depends heavily on oil for income, has recently upped its fleet of oil tankers to 20.

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