Kuwait's Energy Minister Sheikh Ali Al Jarrah Al Sabah said oil prices were 'very good' but declined to say if Opec should change its output cap at its next meeting.'Prices are very good,' Sheikh Ali said when asked if OPEC should change its output levels in the March 15 ministerial meeting.
OPEC agreed last year to cut supply by 1.2 million bpd from November 1 and by another 500,000 bpd from February 1 this year. The cuts include 10 countries, all except Iraq and new member Angola.
Oil rose above $59 a barrel on Friday after the US said militants in Nigeria, Africa's top oil producer, were planning to expand their attacks. Saudi Oil Minister Ali Al Naimi said earlier this month OPEC would probably keep production levels steady in the March meeting.
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