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Kuwait oilmin says $80-$100 oil a “fair price”

Kuwait's oil minister did not expect OPEC to increase output in the first half of this year.


January 5, 2011 2:23 by

Kuwait’s oil minister said on Wednesday he considered oil at $80 to $100 a barrel to be a “fair price” and did not expect OPEC to increase output in the first half of this year.

Speaking to reporters outside the Kuwait parliament, Sheikh Ahmad al-Abdullah al-Sabah also said he did not foresee the oil producing group to meet ahead of its next secheduled meeting unless “something dramatic happens.” He did not elaborate.

(Reporting by Eman Goma; Writing by Amran Abocar; Editing by Amena Bakr)


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