Oil prices will stay at about
$65 a barrel for at least half a year until OPEC changes its collective
production or world economic growth revives, said the head of state-run
Kuwait Petroleum Corp.
Oil is trading in a bear market
as the U.S. pumps at the fastest rate in more than three decades and
demand expands more slowly. OPEC decided on Nov. 27 to maintain its
output target, prompting a drop in European benchmark Brent crude to
less than $70 a barrel for the first time since May 2010. (more)
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