Expect oil between $50-$60 a barrel: Oil Minister

Oil barrels

Kuwait’s finance minister and acting oil minister Anas al-Saleh sees crude oil prices at $50 to $60 a barrel within the next 15 months, state news agency Kuna reported on Sunday.

Saleh made his comments in an interview that aired on Kuwait’s al-Rai television late on Saturday, Kuna said.

“We expect to see the level of $60, meaning $50 to $60, and we will be within this range in the next 15 months,” Saleh said.

Saleh also said there were serious efforts being made to balance prices at a level that serves both the producer and the consumer, and pointed to Sunday’s Gulf Cooperation Council (GCC) oil ministers’ meeting due to take place in Riyadh with the presence of the Russian energy minister.

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