USDJPY
EURUSD
others
Kuwait’s oil minister said recent slide in crude prices unexpected, fair oil price $60–68
Key Takeaways (30s Read)
Kuwait's oil minister expressed surprise at the recent drop in crude prices, citing a fair price range of $60 to $68 per barrel.
Kuwait’s oil minister Tareq Al-Roumi remarked that the recent fall in oil prices came as a surprise, labeling it a 'sudden drop.' Following the 115th ministerial meeting of the Arab Energy Organization, he stated that the fair price for oil under current market conditions lies between $60 and $68 per barrel. Officials had expected prices to at least hold steady or improve slightly, but the sharp decline caught producers off guard. This statement occurs amid renewed volatility in global crude markets and increasing uncertainty regarding demand and supply dynamics, suggesting that market participants should remain cautious in their trading strategies.
AI Analyst
AI Opinion
"The statement from Kuwait's oil minister highlights the existing uncertainties in the current oil market regarding supply and demand. With a fair price range suggested between $60 and $68, the recent abrupt decline may reflect discrepancies in economic forecasting. The market may be dealing with issues such as oversupply or decreased demand, which could impact other oil-producing nations and suggest challenges in price recovery. Given the increased volatility, traders need to carefully consider their positions and implement robust risk management strategies against sharp price fluctuations."
RECOMMENDED BROKER Trusted Broker
Maximize This Opportunity.
Turn AI-detected market inefficiencies into profit with industry-leading specs. There's a reason pros choose Exness.
Raw Spreads
0.0 pips~
Leverage
Unlimited
Execution
Instant
AI Market Analysis Team
Combining advanced AI algorithms with professional trader insights. We analyze market drivers 24/7 to provide objective trading scenarios.