Kuwait Petroleum Expects Oil Prices of $65 a Barrel for Six Months

The head of state-run Kuwait Petroleum Corp. says the price of oil will stay at about $65 a barrel for at least six months until OPEC changes its collective production.

Nizar Al-Adansi, KPC’s chief executive officer. told Bloomberg:

I think oil prices will stay around the current level of $65 for six or seven months until OPEC changes its production policy, or recovery in world economic growth become more clear, or a geopolitical tension arises.

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