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Kuwait sovereign fund sees oil prices falling-KUNA
KUWAIT |
KUWAIT Feb 5 (Reuters) - The head of Kuwait's sovereign wealth fund KIA expects global oil prices to fall further in the next six months, state news agency KUNA reported on Thursday.
Bader al-Saad, managing director of the Kuwait Investment Authority and a board member of state-run Kuwait Petroleum Corp, said he expected "global oil prices to continue to fall in the next six months which is seen as the biggest challenge (Kuwait's) coming budget is facing", KUNA reported.
He said Kuwait's plan to base it budget on a preliminary price of $35 a barrel was reasonable. (Reporting by Ulf Laessing; editing by James Jukwey)
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