Arab Today, arab today oil price of 100110 per barrel is acceptable
Last Updated : GMT 18:22:38
Arab Today, arab today
Arab Today, arab today

Help producers to complete their production

Oil price of $100-110 per barrel is acceptable

Arab Today, arab today

Arab Today, arab today Oil price of $100-110 per barrel is acceptable

Kuwaiti Finance Minister Mustafa al-Shamali
Kuwait City - Arab Today

Kuwaiti Finance Minister Mustafa al-Shamali Kuwaiti Oil Minister Mustafa al-Shamali said that an oil price of between $100 (74 euros) to $110 per barrel is acceptable to both producers and consumers, in remarks published on Sunday. \"The acceptable and fair price for oil at this stage is $100 to $110 a barrel,\" Shamali told Al-Seyassah newspaper.
\"These prices are good and acceptable to all parties. They help producers to complete their production and exploration projects, besides they are suitable to consumers and the global economy,\" he said.
The main US contract, West Texas Intermediate for delivery in November, closed the week Friday at $103.84 a barrel on the New York Mercantile Exchange, up 53 cents from Thursday\'s closing level.
Brent North Sea crude for November, the European benchmark, gained 46 cents at $109.46 a barrel in London trade.
Shamali said Kuwait\'s current crude production is estimated at 3.2 million barrels per day, up from an average of around 3.0 million barrels during the past two years.
Source: AFP

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