Nawal Al Fuzaia
Kuwait Opec governor expects oil to return to $100 level
KUWAIT, September 10, 2014
Kuwait Opec Governor Nawal Al Fuzaia said that a recent drop in oil prices was due to a rise in supply and slower summer demand and that she expected prices to rise again and maintain the $100 per barrel level.
"In relation to oil prices, the current drop is due to a rise in supply, specifically the return in production from Libya. There are also supplies from US shale, and there is a slowing in demand for crude in the summer, she told reporters.
"I expect prices will rise and maintain the level of $100 (per barrel)," she said, citing geopolitical reasons and pending winter demand. -- Reuters
