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$100 oil won't break world economy


$100 oil won't break world economy


Kuwait’s Oil Minister says the world economy can withstand an oil price of 100 dollars a barrel.

Several oil exporters have indicated OPEC may decide against increasing output in 2011 as the market was well supplied.

Oil prices have risen since May by 35 percent and reached a 26-month high, mainly because of the severe winter in Europe and the USA.

Both Iraq and Libya have also maintained that 100 dollars was a fair price.

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