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Kuwait minister sees no change to Opec output
KUWAIT - Kuwait's energy minister Ahmad Al Fahd Al Sabah said yesterday that he believes Opec's current supply limits are likely to continue since oil prices are still suitable.
Asked about recent remarks by Ali Al Naimi, oil minister of Saudi Arabia, that there was probably no need to change Opec's output ceiling, the Kuwaiti minister told Reuters: "I fully agree with what my colleague Mr Naimi is saying. I think we will continue with our production."
Asked about thinking in the Organisation of Petroleum Exporting Countries before its ministerial meeting this month, Sabah said the group was keenly watching oil prices after they recently hovered around the top of Opec's price target range, prompting some calls to hike supply. "We are keen that the market be balanced between production and consumption," said Sabah.
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