Kuwait OPEC Minister: Oil price to drop to $60/bbl

Lianna Brinded
01 Jun 2010

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Kuwait’s national representative to OPEC, Nawal Al-Fuzaia has warned that crude oil prices could fall to $60 per barrel (bbl) this year, as continued concerns over the global economic recovery are being exacerbated by Greece's ability to reduce fiscal deficit and service debt repayments.

“The drop in prices could continue and reach $60 a barrel and it is an issue correlated to the global economy,” said Al-Fuzaia in several Kuwaiti media reports. “The range of $70–80/bbl is a fair one for both

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