Global oil prices should stay at around $65-$70 per barrel in the coming months, and demand in the northern hemisphere winter is likely to be lower than in the previous year, Kuwait's oil minister said today. | |
| Crude oil prices topped $75 per barrel in late April, as tensions between the West and Iran over the latter's nuclear programme escalated, and on supply disruptions in Nigeria. |
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| Prices have since fallen below $70 a barrel. "Now that prices have started to decrease, we believe still, the geo-politics problem will play a major role because of the situation in Iran and Iraq and other regions," Sheikh Ahmad al-Fahd al-Sabah told reporters in New Delhi. |
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| "I hope they (global oil prices) will be more stable," he added, when asked if he saw stability in global oil prices in the coming months. "I think they'll continue between $65-$70," he said. |
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