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Commodities Briefing - Categorized | Market Moves, Oil more

Kuwait says oil market balance takes precedence over price issue

Posted on 13 January 2014

Kuwait’s oil minister Ali al-Omair said the OPEC member targets 3.5 million barrels per day capacity by 2015. Balance in global oil markets takes precedence over the crude price, Kuwait’s new oil minister said on Sunday.
Asked whether 100 dollars a barrel was a good price for oil, Ali al-Omair told reporters at a reception: “The issue of balance comes before the issue of price.”…………………………………Full Article: Source


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