OPEC is deliberating a boost in oil supplies since unrest in Libya nearly shutdown the country's crude output Kuwait's oil minister said Tuesday. Oil prices took a tumble on global markets in response.
REUTERS - OPEC is in talks about boosting oil supplies, Kuwait's oil minister said on Tuesday, but many in the group remained sceptical, saying world supply is comfortable despite the loss of Libyan crude.
Kuwait's comment that the Organization of the Petroleum Exporting Countries is considering an official increase in output sent oil prices lower, as did an assurance from top world exporter Saudi Arabia that it could help meet any shortages.
Date created : 2011-03-08