KUWAIT CITY: King Abdullah of OPEC powerhouse Saudi Arabia said in remarks published on Tuesday that a fair price for oil was between 75 and 80 dollars."We still believe that a fair price is 75 dollars and perhaps 80 dollars a barrel, especially now," the king said in an interview with Kuwaiti daily Assiyassa. King Abdullah -- whose country is the world's top oil exporter -- also said that prices, which have dropped sharply due to the global economic meltdown, would eventually stabilise at a higher range when the world economy recovers."The issue of fluctuating prices is governed by developments and conditions of the world markets. These (prices) are bound to stabilise at a higher price for oil in the future," he said.Oil prices were hovering around 60 dollars a barrel in Asian trade on Tuesday ahead of an OPEC meeting later this week and continued unrest in key oil exporter Nigeria. Oil fell from record peaks of more than 147 dollars in July to about 32 dollars in December as demand dropped off due to the global economic crisis but prices have since risen gradually.
Friday, August 14, 2009 MUMBAI: A 26-year-old woman died Thursday of H1N1 swine flu in the southern city of Bangalore, raising India's death toll from the virus to 20, authorities said.The death was the first reported in India's information technology capital, the Press Trust of India reported.Meanwhile in Pune, the worst-affected in India, two more victims of the virus died Thursday, raising the death toll in that western city near Mumbai to 12, the report said. The victims were an 11-month-old boy and a 75-year-old old woman.US media reported movie halls, schools and colleges were ordered closed Thursday for three days to a week in Mumbai, the commercial and financial capital of the country, as fear of the pandemic spread.Prajakata Lavangare, a spokeswoman for the government of Maharashtra state of which Mumbai is the capital, said similar orders were issued in Pune, which is also located in the state.The woman who died in Bangalore was identified only as Roopa, a teacher in...
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