OPEC mulling $28-$30 price band

OPEC mulling $28-$30 price band

KUWAIT CITY: OPEC is considering raising its price band to between US$28 and $30 a barrel, Qatar's energy minister said in comments published on Saturday, ahead of a crucial meeting of the cartel.

"A special committee is currently reviewing raising the band to between $28 and $30 a barrel," from the current $22 to $28, Abdullah bin Hamad al-Attiyah told the London-based daily Al- Hayat.

"If the committee completes the revision, the issue could be discussed at the meeting," of OPEC ministers due to be held in Vienna on Sept. 15, he added.

"The fair price is between $28 and $30 . This price is fair to both consumers and producers and will help avoid fluctuations. The high prices of $40 a barrel are not appropriate for consumers or producers," he said. --AFP