Oil price of $50-60 is appropriate, says Kuwait minister

Anas al-Saleh, the acting Oil Minister for Kuwait said on Thursday that an appropriate price for oil is $50-60 a barrel.

As of Thursday, international Brent crude oil futures LCOc1 was just shy of $50 a barrel.

Sales, speaking to reporters in Vienna at the OPEC conference, was positive that OPEC’s strategy was working and that the organisation would continue to make it work.

Oil ministers ministers from across the countries that make up OPEC will be continuing the OPEC meeting on Thursday.