KUWAITSheikh Ali Khalifa AlSabah, the Kuwaiti oil minister, said in an interview published Saturdsay that he would not rule out a drop in oil prices to levels as low as $15 per barrel.
“Anything is possible.,”Sheikh Ali said in an interview with the newspaper Al Rai Al Aam.
But Sheikh Ali said any drop in oil prices would ultimately lead to
a drop in supplies because investment in the oil industry would tail off.
“Any decrease in oil supplies will prompt an increase in oil prices,” Sheikh Ali added.
The minister said Britian and Norway will be “most affected by such a low price” because they will not be able to invest in new oil fields.
Article extracted from this publication >> November 22, 1985
