Gulf Arab OPEC may tolerate oil below $90 - Reuters -

Oil prices may be USD 20 off April's USD 127-a-barrel peak but there is no panic in Riyadh, Kuwait City or Abu Dhabi. Far from it.

Oil policy officials in the capitals of OPEC's Gulf Arab price doves Saudi Arabia, Kuwait and the United Arab Emirates are relaxed and won't be losing sleep if prices fall further.

One senior official in the region told Reuters those producers are unlikely to reduce supplies to try to stem a decline in oil prices unless crude falls below USD 90 a barrel for a sustained period.

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