Oman expects oil prices to stay between $70-$80 per barrel

Tuesday, 4 September 2018 00:11 - - {{hitsCtrl.values.hits}}

DUBAI (Reuters): Oman’s Oil Minister Mohammed bin Hamad al-Rumhi said on Monday he expects oil prices to remain between $70 to $80 a barrel this year, Omani news website WAF reported on Twitter.

Saudi Arabia, Kuwait and the United Arab Emirates are the only three countries that have the capacity to increase oil production, he said at an oil conference in Oman.

OPEC and its allies pledged on June 22-23 to return to 100 percent compliance with their agreement to reduce their combined output by 1.8 million bpd. The pact was first implemented in January 2017.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.