OPEC will not call for an emergency meeting before its scheduled gathering in June 2011 if the price of crude oil hits $100 a barrel, Kuwait's oil minister told reporters on Tuesday.
Asked whether the oil producing group would hold an emergency meeting if oil prices, near $90 a barrel currently, hit $100 a barrel, Sheikh Ahmad al-Abdullah al-Sabah said: 'No.'
Oil was steady above $89 on Tuesday, with U.S. crude for February CLc1 gaining 12 cents to $89.37 a barrel by 1005 GMT after trading as high as $89.67 at the start of the trading session.
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