Speculation could push oil prices to rise to $110 per barrel within a few weeks, which may prompt OPEC to raise production, a member of Kuwait's Supreme Petroleum Council (SPC) said on Sunday.
"Demand will increase slightly, but this increase in price is usually technical, due to analysts' forecasts and speculations," Imad al-Atiqi, a member of the country's highest oil policy body, told Reuters in a telephone interview.
"This (increase) could be a reason to increase production so the oil market does not get worried ... especially if the rise was quick and crossed the $110," he said.
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