Markets
U.S. open in 9 hrs, 23 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 says oil prices are 'very good'
AP
KUWAIT CITY -Kuwait's oil minister says OPEC is not expected to raise output before its members achieve "100 percent" compliance with production quotas.
Sheik Ahmed Al Abdullah Al Sabah also told reporters Tuesday that current oil prices are "very good," and that the Organization of the Petroleum Exporting Countries would hold a special meeting if oil hits $100 per barrel.
The oil producing bloc, which includes Kuwait, has not changed its output targets since the end of last year when it said it was lowering production by 4.2 million barrels per day from September 2008 levels to buoy collapsing oil prices.
While prices have since more than doubled, reaching $79 per barrel on Tuesday, OPEC quota compliance has been faltering.
OPEC is scheduled to meet Dec. 22 in Angola.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-10-27 10:19:57
COMMENTS ( 0 )