Our Network

Register for our free newsletter

 
 
Latest News
ShareShare on Google+

Kuwait wants oil price above $60 a barrel

Kuwait needs oil prices to stay above $60 a barrel to help meet the nation's...

0

July 5, 2009 1:07 by



Kuwait needs the price of oil to  stay above $60 a barrel to help meet the nation’s “budgetary requirements,” said the nation’s Oil Minister Sheikh Ahmad Al Abdullah Al Sabah to journalists at parliament, according to a report in Reuters.

“We will be watching the market very closely,” he said, “we would not like to see the price go below a certain level.”

However, oil prices above $100 would hurt the world economy, Sheikh Ahmad added.

Crude oil tumbled almost $8 last week from an eight-month peak of $73.38.




0

Tags: , , , ,

GCC
 
 

More on GCC

All GCC

Lately on Kipp

Leave a Comment

 
 

Read Next & Previous

 
Close