Latest news

Oil rises after Kuwait sees higher prices ahead

11th October 2015

Oil prices rose on Monday after Kuwait's oil minister said economic growth and the removal of high-cost producers would help tighten global fuel balances.

Kuwait Oil Minister Ali al-Omair told Reuters the Organization of the Petroleum Exporting Countries would stick to its output policy, which has focused on building market share at the expense of higher cost non-OPEC producers.

"There are indications that a lot of high-cost oil production‎ is starting to get out of the market and this will help improve prices," Omair said.

Read More: Link