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Kuwait says Opec looking for sustainable growth in Chinese economy, demand

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After almost a year of painfully low oil prices, Opec members are beginning to believe they are winning against upstart US shale producers in a short-term market share contest.

[FUJAIRAH] Kuwait's Opec governor said on Thursday the oil exporters' group needs more figures from China reflecting actual demand.

Nawal al-Fuzaia, at the Gulf Intelligence Markets Forum in the UAE emirate of Fujairah, said Opec needs more transparency in data from China to gauge the level of demand.

Ms Fuzaia said Opec is looking for stable sustainable growth in China's economy and Chinese demand but added that, should demand decline in China, Kuwaiti crude would go to other markets.

REUTERS