According to CNBC reported yesterday that Kuwait Supreme Petroleum Council (Supreme Petroleum Council), a member said Sunday that oil prices will fuel speculation in the next few weeks, the price per barrel could rise to $ 110 . This could prompt OPEC (OPEC) to boost production.
The official said that the current oil prices rose slightly, mainly due to analyst forecasts and speculation, the price increase could be the reasons for growth, but growth rate if the price is too fast, could reach every 110 U.S. dollars a barrel.
He also said that if the price is 100 U.S. dollars a barrel, OPEC members may be established to meet prior to the meeting held in June. He added that the global economy can afford the price of 100 dollars per barrel, this will not affect the economic recovery.
He said it was because of oil prices such as gold and other metals, food and basic substances linked to strategic commodities.
last week, Kuwaiti Oil Minister Sheikh Ahmad Abdullah Sabah (Sheikh Ahmad al-Abdullah al-Sabah), said that unless happen, he does not want OPEC member countries met in June, before the meeting. He does not want increase in oil production during the first half of 2011.
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