Al-Sabah also told reporters on the sidelines of a parliament session in Kuwait that the prices have now become "almost fair," after last week's fall on international oil markets.
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OPEC To Increase Output In May
The group will release 500,000 barrels a day of oil into the market in May
Sheikh Ahmad Fahad al-Ahmad al-Sabah, the president of Organization of Petroleum Exporting Countries, said Monday that he expects the group will release 500,000 barrels a day of oil into the market in May without taking a formal decision.
Al-Sabah, who is also Kuwait's oil minister, said this will guarantee that expected higher world demand in the third quarter will be met with sufficient supply from OPEC to prevent an undesired surge in oil prices.
Al-Sabah also told reporters on the sidelines of a parliament session in Kuwait that the prices have now become "almost fair," after last week's fall on international oil markets.
Al-Sabah also told reporters on the sidelines of a parliament session in Kuwait that the prices have now become "almost fair," after last week's fall on international oil markets.
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