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Apr 16, 2010, 08.36 AM IST

OPEC would mull oil output boost at $100: Kuwait

Organisation of Petroleum Exporting Countries (OPEC) would make a decision on whether to boost output to calm oil prices if the market reached USD 100 a barrel, Kuwait's oil minister said on Thursday

Source: Reuters
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OPEC would mull oil output boost at $100: Kuwait
Organisation of Petroleum Exporting Countries (OPEC) would make a decision on whether to boost output to calm oil prices if the market reached USD 100 a barrel, Kuwait's oil minister said on Thursday.


"Above USD 100... we would take a decision in this regard," Sheikh Ahmad al-Abdullah al-Sabah told reporters at Kuwait's parliament, when asked how high the producer cartel would allow prices to rise before acting.


US crude traded around USD 85 a barrel on Thursday, a little above the USD 70 to USD 80 range that OPEC's largest producer Saudi Arabia has said was fair for both consumers and producers.


Tags: Oil, OPEC, Organisation of Petroleum Exporting Countries, output, prices , Kuwait
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