Opec will not hike output in 2011, says Qatar

Global economy can bear $100 oil price, says Kuwait oil minister

The world economy can withstand an oil price at $100 per barrel, Kuwait's oil minister said on Saturday.

Asked in Cairo if the global economy can stand a $100 oil price, Minister Sheikh Ahmad Al-Abdullah Al-Sabah said: "Yes it can".

Asked if he foresaw a rise in oil production, Sheikh Ahmad replied: "No, more compliance, more compliance".

Meanwhile, Qatar's oil minister Abdullah Al-Attiyah said on Saturday he did not expect Opec to meet before its scheduled gathering in June 2011.

"I do not expect an Opec meeting before June because oil prices are stable," he told reporters on the sidelines of a meeting of Arab oil exporting countries in Cairo.

Attiyah does not expect Opec to increase production in 2011.

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