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Kuwait expects oil price to ease

Posted on 03 July 2014

Kuwait Oil Minister Ali Al-Omair said he expects oil prices to ease following a rise prompted by unrest in oil-producing OPEC members Iraq and Libya. “Markets have witnessed a slight increase recently, but this rise will not last for long as prices will stabilize.
They have already started to ease and return to normal levels,” said Omair, cited by the KUNA news agency. He attributed the prise rise to violence in Iraq and Libya, both key oil producers and exporters in the Organization of Petroleum Exporting Countries………………………………………..Full Article: Source


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