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.
BEIRUT: Thousands of people converged Saturday on central Beirut to mark the fourth anniversary of the assassination of Lebanese former premier Rafiq Hariri.Waving Lebanese flags and carrying pictures of the slain leader, men, women and children gathered under sunny skies in Martyr's Square where members of the parliamentary majority were to address the crowd. The rally comes as final preparations are underway in The Hague for the launch of the international tribunal set up to bring Hariri's killers to justice. It also comes as the country prepares for legislative elections in June that will pit Western-backed political parties against a Hezbollah-led alliance backed by Syria and Iran.Hariri died in a massive car bombing on February 14, 2005 that also killed 22 others. The assassination was widely blamed on then Lebanese power-broker Syria, which has denied any involvement. The attack on the Beirut seafront was one of the worst acts of political violence to rock Lebanon since t...
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