KPC official sees year-end crude at $50-$60/bl

摘要

State-owned KPC subsidiary KPI’s chief executive Bakheet al- Rashidi sees crude at $50-60/bl by the end of the year or first half of 2017, continuing a firmer price trend in the market. “We think this increase in price is following the fundamentals of the market. It is a supply-demand issue. Nobody is forcing the price to go up or down.” al-Rashidi says. The comments from the KPI chief echo a sentiment expressed by Qatar’s oil minister Mohammed Saleh al-Sada after a failed attempt to coordinate a production freeze among major oil exporters in Doha last month.