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| Oil to stay around $90-$100 says Kuwait |
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 Crude oil prices will likely stay between $90 and $100 until the end of 2011 due to the International Energy Agency’s (IEA) emergency stock releases, a member of Kuwait’s Supreme Petroleum Council (SPC) was quoted as saying on Sunday.
The group of 28 industrialized consumer nations said on June 23 it would release 60 million barrels of oil from strategic reserves to compensate for a loss of Libyan crude supply and dampen prices.
The unexpected IEA move will likely keep oil prices between $90 and $100 for the rest of the year, Imad al-Atiqi, part of the OPEC member’s top oil policy body, was quoted as saying by Kuwaiti newspaper Al-Seyassah on Sunday.
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