Oil price 'very comfortable':Oil price 'very comfortable': Kuwait
Sun Oct 31, 5:03 AM
KUWAITCITY (AFP) - Kuwaiti Oil Minister Sheikh Ahmad Abdullah al-Sabah saidon Sunday the price of oil is "very comfortable" despite crude havingslid below 82 dollars a barrel.
Speaking to reporters on thesidelines of the second "Kuwait Financial Forum", the minister said heexpects no change in output quotas at the next meeting of theOrganisation of Petroleum Exporting Countries (OPEC).
Oil prices closed Friday below 82 dollars despite new data showing a modest rise in US economic output.
New York's main contract, light sweet crude for December delivery, fell 75 cents to close at 81.43 dollars a barrel.
In London, Brent North Sea crude for December shed 44 cents to settle at 83.15 dollars.
TheOPEC cartel decided at an October 14 ministerial meeting in Vienna tokeep its official oil production target unchanged at 24.84 millionbarrels a day.