Arab Today, arab today oil to stay below 115 barring surprises
Last Updated : GMT 15:06:39
Arab Today, arab today
Arab Today, arab today

Oil to stay below $115 barring surprises

Arab Today, arab today

Arab Today, arab today Oil to stay below $115 barring surprises

Kuwait City - AFP

Oil prices are expected to stay between $100 and $115 a barrel until mid-year, barring \"surprises and geopolitical changes,\" Kuwait\'s Oil Minister Mohammad al-Basseri said on Monday. \"Oil prices are not expected to slide below $100 a barrel or go above $115,\" throughout the first six months of 2012, \"barring surprising events or geopolitical changes,\" said Baseeri, cited by the state-run KUNA news agency. He said all indications show that the oil market is balanced and that prices are suitable for consumers and producers, adding that \"Kuwait production remained unchanged\" at around 3.0 million barrels per day. Earlier, a top Kuwaiti oil executive said oil prices could soar to as high as $160 a barrel if tension over an Iranian oil embargo persists or in the event of conflict. \"If the embargo on Iranian oil persists, or in case of a military move over the closure of the Strait of Hormuz, oil prices are expected to soar to around $150 to $160,\" Kuwait Petroleum Corporation board member Ali al-Hajeri told Al-Seyassah daily. Hajeri said such a price would not last long, however, and would return to \"normal levels\" once the reasons for the rise disappear. The European Union has slapped an embargo on Iranian oil imports, and Tehran has repeatedly threatened to shut the Strait of Hormuz, a strategic waterway for Gulf oil exports, if it was not allowed to export its crude. Hajeri called the current price of between $100-105 \"fair and acceptable to producers and consumers,\" and said any higher price would be counterproductive to the global economy. World oil prices sank on Monday as concerns over the unresolved Greek debt crisis overshadowed worries about supply disruptions in the Middle East and Africa. New York\'s main contract, West Texas Intermediate crude for delivery in March, dropped $1.05 to $96.79 a barrel. Brent North Sea crude for March delivery shed 67 cents to $113.90 a barrel in London morning deals.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oil to stay below 115 barring surprises Arab Today, arab today oil to stay below 115 barring surprises

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today Former head of Egypt’s syndicate submits appeal

GMT 20:11 2017 Saturday ,25 March

Former head of Egypt’s syndicate submits appeal
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Actress Mervat Amin reveals her role in new series
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday