Kuwait Petroleum International (KPI) CEO, Bakheet al-Rashidi, comments to media over the weekend, speaking at a KPI event in London
- "The global oil market is going through a correction and we have reached the bottom"
- Said the dropping price of oil was a result of market over supply & slow Asian demand, particularly China
- Said it would take about three years for prices to climb back up to a $60-$80 range
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