The global economy is not being harmed by oil prices at current levels, Qatar's oil minister said on Sunday, adding that a price of between $70 a barrel and $85 was fair to producers and consumers.
"The current price is not harmful to the global economies," Abdullah bin Hamad al-Attiyah told Reuters on the sidelines of a meeting of Gulf Arab oil ministers.
U.S. crude for November CLc1 settled at $82.66 a barrel on Friday, having gained 1.32 percent on the week.
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