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Kuwait & Qatar Satisfied With $50 Oil Price

OPEC members Kuwait and Qatar are comfortable with current oil prices of about $50 a barrel, Bloomberg reported

Kuwait & Qatar Satisfied With $50 Oil Price

Kuwait’s Oil Minister Sheikh Ahmed al-Abdullah al-Sabah told reporters Sunday he was glad with the current oil price of about $50. He also said that the price goes with the economic situation.

It’s too early to predict what OPEC’s decision will be at its next meeting, Qatar’s Oil Minister Abdullah Bin Hamad Al- Attiyah said in Kuwait City, where he is attending a conference.
“We believe growth in the international economy is still very weak - it doesn’t mean we are going to cut production in May,” al-Attiyah said in an interview today. “The crisis has not reached the bottom so we have to be very careful.”
Qatar’s al-Attiyah said. “The current oil price is not related to demand and supply - it is higher mainly because of a weak dollar.”



Author: Ksenia Kochneva


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