Wednesday, 08 December 2021 01:00 GMT

Kuwait Petroleum International Chief Expects Oil Price Surge to Continue


(MENAFN- Qatar News Agency) The recent upward trend in oil prices is to continue, Kuwait Petroleum International (KPI) President and CEO Bakheet Al-Rashidi said.

"I expect this trend to continue. We expect the price to be between $50-60 by end of this year or the first half of the next year. We think this increase in price is following the fundamentals of the market. It is a supply-demand issue. Nobody is forcing the price to go up or down," he told Kuwait's official news agency KUNA.

"I think this will continue until we see something like $80 a barrel three to four years from now. It will stabilize the market," he added.


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