Kuwaiti Oil Minister Sees Crude at $40-$60 over next 3 Years
Kuwait's acting oil minister said on Wednesday he expected oil prices of $40 to $60 a barrel over the next three years.
"I think we will see an indication of an increase in demand by end of this year and probably a little bit higher prices by 2017 and 2018," Anas al-Saleh told reporters in Kuwait.
"And the range is $40-$60 as an average over three years."
Brent crude futures were trading above $40 per barrel Wednesday.
(Reporting by Hadeel Al Sayegh and Ahmed Hagagy; Writing by Sylvia Westall; Editing by Mark Potter)
(Reporting by Hadeel Al Sayegh and Ahmed Hagagy; Writing by Sylvia Westall; Editing by Mark Potter)