KUWAIT CITY: Kuwaiti Oil Minister Mustafa Al Shamali said that an oil price of between $100 to $110 per barrel is acceptable to both producers and consumers, in remarks published yesterday.
“The acceptable and fair price for oil at this stage is $100 to $110 a barrel,” Shamali told Al Seyassah newspaper.
“These prices are good and acceptable to all parties. They help producers to complete their production and exploration projects, besides they are suitable to consumers and the global economy,” he said.
The main US contract, West Texas Intermediate for delivery in November, closed the week Friday at $103.84 a barrel on the New York Mercantile Exchange, up 53 cents from Thursday’s closing level. Brent North Sea crude for November, the European benchmark, gained 46 cents at $109.46 a barrel in London trade.
FRANKFURT: Workers at Amazon.com’s German operations could strike during the Christmas holiday season in a dispute over pay that has been raging for months, a trade union has warned.
“If I were Amazon I would not rely on being able to make all deliveries to customers on time before Christmas,” Heiner Reimann of services trade union Verdi was quoted as saying by German weekly Der Spiegel yesterday.
Verdi is ready to call a strike when it hurts Amazon the most and only “serious negotiations” on the part of the company would avert a walkout, he was quoted as saying.