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Commodities Briefing - Categorized | Oil, Price Watch more

$ 100 oil price ‘reasonable’: Kuwait

Posted on 26 March 2013

The Kingdom said that $100 a barrel is a “reasonable” price for oil while Kuwait said the price is “fair” and the market was stable. “In 1997, I thought 20 dollars was reasonable. In 2006, I thought 27 dollars was reasonable,” said Minister for Petroleum and Mineral Resources Ali Al-Naimi in Kuwait City.
“Now, it is around $ 100 … and I say again it is reasonable.” Kuwait’s Oil Minister Hani Hussein said the “current oil price is fair. There is a little bit of over-supply, but we think that the market is stable at the moment,” he said………………………………………..Full Article: Source


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