Kuwaiti Oil Minister Sees Crude at $40-$60 Over Next 3 Years

Reuters

KUWAIT, March 9 (Reuters) - 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)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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Brent Crude Oil : $45.97/BBL 2.91%
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