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Al-Omair ...global growth improves.

Oil may reach $60 by year-end says Kuwait minister

KUWAIT, February 11, 2015

Kuwait's oil minister expects crude prices to rise in the second half of 2015, possibly to $60 a barrel by year-end, local newspaper Al-Rai cited him as saying on Wednesday.

The recent rebound in oil prices was due to low supplies from high-cost producers and an improvement in the growth rates of the global economy, Oil Minister Ali Al-Omair told the paper.

Brent crude held steady above $56 a barrel on Wednesday and US crude briefly rose more than $1, after a smaller-than-expected rise in US crude stocks was viewed by some as a sign that a supply glut was starting to abate.  - Reuters




Tags: Kuwait | Oil minister |

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