Kuwait prefers $75-$90 oil price

Kuwait prefers an oil price in the range $75-$90 a barrel, Oil Minister Sheikh Ahmad al-Abdullah al-Sabah said on Tuesday. "Anything could happen, but we would rather see it between $75-$90. That's the range that is comfortable from now until the end of the year," Sheikh Ahmad told reporters at the parliament.

US crude oil futures were trading at around $88.90 a barrel on Tuesday. When asked if prices could go above $100 per barrel in 2011, Sheikh Ahmad said that anything was possible, subject to market conditions. Kuwait, the world's fourth-largest oil exporter, pumped around 2.31 million barrels per day in November, according to a Reuters survey.