Markets
U.S. open in 23 hrs, 36 mins
BUSINESS NEWS
- Market News
- Earnings
- Recalls
- Recession Watch
- Tech News
- Financial Crisis
- Madoff Scandal
- BloggingStocks
- Luxist
- Money Videos
INVESTING
- Stock Quotes
- Stock Charts
- Stock Ticker
- Currencies
- Portfolio
- Stock Screener
- Broker Center
- Mutual Fund Center
- ETF Center
- Money
- 24/7 Wall St.
- Financial Glossary
PERSONAL FINANCE AT WALLETPOP
- Bargains
- Banking
- Budget
- Calculators
- College Finance
- Community
- Credit
- Deals
- Debt
- Economizer
- Food
- Home
- Fraud
- Insurance
- Interest Rates
- Loans
- Mortgages
- Real Estate
- Recalls
- Recession
- Retirement
- Saving
- Simplification
- Specials
- Taxes
SMALL BUSINESS
Kuwait satisfied with current oil prices
AP
KUWAIT CITY -The Kuwaiti oil minister says the current global oil prices are "suitable" for both exporters and consumers.
Sheik Ahmed Al Abdullah Al Sabah told the state news agency that the price range between $60 to $80 a barrel is acceptable — endorsing remarks by fellow OPEC kingpin Saudi Arabia.
Saudi Arabia and other members of the Organization for Petroleum Exporting Countries have said they were content with current crude prices, which, at around $71 per barrel, are over double their levels that December when OPEC cut 4.2 million barrels per day production.
Kuwait is one the top five producers in OPEC — a cartel of 12 nations, whose output accounts for two-thirds of the world's oil reserves, and, as of April 2009, 33.3 percent of the world's oil production.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-10-11 09:26:43
COMMENTS ( 0 )
Latest Money News
CNNMoney
- Talk about a low interest rate: U.S. Treasury borrows $44 billion for less than 1%
- Google set to map the world - and push out GPS makers as a result?
- Washington Mutual gave a mortgage to O.J. Simpson
- Closing Bell: Economic Catapult for Thanksgiving & Black Friday (WMT, TGT, GRMN, GOOG, MSFT)
- Deere up on Q4 earnings performance