Kuwaiti official: “Oil price will not reach $100 within next 5 years”

Kuwaiti official: “Oil price will not reach $100 within next 5 years”
# 17 February 2015 07:45 (UTC +04:00)

Baku. Agshin Rafigoglu - APA-Economics. Oil price will not reach $100 within next 5 years, Kuwait’s representative to the Organization of the Petroleum Exporting Countries (OPEC) Mohammad Al-Shatti said in an interview to TASS, APA-Economics reports.

“There will be established a balanced situation in the oil market. Oil price for 2016 may be forecasted only in the second half of the year”, he said.

Moreover, he added that Non-OPEC countries are liable for worsening situation on the oil market.

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