Kuwait Says Will Have To Live With Oil At $60, $80 Or $100

Kuwait’s oil minister said on Wednesday the OPEC member will have to accept any market price of oil whether it is $60, $80 or $100 a barrel.

“We have to live either with $80 or with $60 or with $100,” Ali Saleh al-Omair told reporters a day before an OPEC meeting will debate how to tackle oil prices that have fallen by a third since June to below $80 per barrel.

OPEC Gulf oil producers have reached a consensus not to cut oil output when OPEC meets on Thursday, a Gulf OPEC delegate told Reuters.