Oil To Stabilise At 50-60 Dollars By End 2016
Category: Kuwait Local News

The chief executive of Kuwait Petroleum International said on Tuesday that he expected oil prices to stabilise between $50 and $60 a barrel by the end of 2016 or early 2017. Bakheet al-Rashidi as saying prices could reach $80 a barrel in three to four years' time. Brent crude is currently around $46 a barrel.

"We think this increase in price is following the fundamentals of the market," he told. "It is an issue of supply and demand."

KPI, also known as Q8, refines and markets fuel, lubricants and other petroleum products. It is an international subsidiary of state-owned oil and gas firm Kuwait Petroleum Corp.



03 May, 2016 0 457
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