Kuwait Optimistic About OPEC Meeting
Kuwait Optimistic About OPEC Meeting

Kuwait Optimistic About OPEC Meeting

Kuwait Optimistic About OPEC Meeting

Kuwait's finance minister and acting oil minister, Anas al-Saleh, said on Tuesday he was optimistic that an understanding on production "at least" would be reached between producers at an OPEC meeting in November. He said expectations that oil prices would be between $50 and $60 over the next 10 to 15 months were logical and acceptable, Reuters reported. Saleh was speaking with journalists on the sidelines of an oil and gas show in Kuwait City. He said that current prices were unsustainable but that he believed the cancellation of oil investments globally would help to balance supply and demand so as to arrive at an acceptable price. Saleh also said that (Persian) Gulf Cooperation Council states ministers who had been at OPEC's Istanbul meeting last week reported that there was a positive atmosphere there, including among non-OPEC producers. OPEC’s policy of pumping at full throttle in spite of low prices to defend market share punished drillers. At the same time, it drove down operating expenses and compelled companies to find creative ways to save money.


Short URL : https://goo.gl/i7sPhR
  1. https://goo.gl/3QShZL
  • https://goo.gl/Zbx6mt
  • https://goo.gl/44DSny
  • https://goo.gl/FMmFyI
  • https://goo.gl/537XCt

You can also read ...

China Can Substitute US Crude With Iranian Oil
Beijing’s retaliatory measures against US tariffs can include...
Exxon to Build LNG Terminal in Australia
ExxonMobil plans to develop a project to import liquefied...
Goldman kept its forecast that Brent Crude will hit $82.50 a barrel this summer and end 2018 at $75 per barrel.
Despite expectations that OPEC and Russia will likely decide...
Japan Accelerates Plan for Restoring Gas Supply
Japan’s Osaka Gas Company said on Tuesday it would bring...
Iran to Tap International Banks for Energy Finance
Domestic water and power plans are expected to draw a total of...
NIOC Needs to Maintain Current Output, Exports
Despite the US-Saudi Arabia ploy to coerce OPEC members' to...

Add new comment

Read our comment policy before posting your viewpoints