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Kuwait Oil Minister Says He Expects Price Rally To Continue

Kuwait Oil Minister Says He Expects Price Rally To Continue

Omair said the current market surplus was less than 1.8 million barrels per day.

Kuwait Oil Minister Ali al-Omair said on Monday he expects the current oil price rally to continue into the second half of 2015 as the global supply surplus shrinks.

“I think it will last,” Omair said of the recent rise in oil prices, speaking on the sidelines of an energy event.

“It will start holding gains now and hopefully in the second half of 2015 we will see better prices,” he said.

Omair also said the current market surplus was less than 1.8 million barrels per day.

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