(MENAFN) Oman's oil and gas minister Mohammed bin Hamad Al Rumhy confirmed that it was implausible for oil prices to exceed USD80 within this year.
The statement has been made on Monday by the Omani oil and gas minister during an interview with CNBC.
During the interview, the minister also suggested that he believes oil prices are now place in a "fair" way.
Al Rumhy stated "I think for the rest of this year we should see stability between $70 and the high 70s (dollars a barrel), or low 70s to high 70s."
He added "because this is the wish of all of us who are cooperating with OPEC to provide the market with enough crude to make sure that the consumers are not impacted and we think that the current price is a fair price."
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