Kuwait PM: high oil prices unjustified, worrisome
Published: 25 Sep 2008 19:04:14 PSTUNITED NATIONS, Sept 26 - OPEC oil producer Kuwait believes that the big rise in oil prices is "unjustified" and caused by factors beyond producers' control, the country's prime minister said on Thursday.
Sheikh Nasser al-Mohammad al-Sabah told the U.N. General Assembly in a speech that "the unjustified rise in prices, which is a source of concern, is caused by factors that are out of the control of the producing countries."
November U.S. light crude CLX8> rose $2.29, or 2.17 percent, to settle at $108.02 a barrel on Thursday on NYMEX.
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