KUWAIT CITY (AP) -- Kuwait's oil minister says a price of around $50 a barrel is "reasonable" for oil considering the global financial crisis.
Sheik Ahmed Al Abdullah Al Sabah was also quoted by the official Kuwait News Agency as saying that it was premature to say whether OPEC should decide on a new cut to boost prices when it meets May 28.
Sheik Ahmed said producers should wait for the results of stimulus packages on the major world economies.
The minister was attending the third Asian Ministerial Energy Roundtable, which opened Sunday in Tokyo.
OPEC pledged reductions totaling 4.2 million barrels a day last year in hopes of raising the price of crude, which has fallen by over 60 percent from mid-July highs of $147 per barrel.
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