Crude prices of around $100 a barrel are resonable for both consumers and producers, the oil minister of top oil exporter Saudi Arabia said Monday.

Oil is "around $100 a barrel, which is a reasonable price in global markets for both producing and consuming nations," Ali al-Naimi said in remarks published by the official Kuwait News Agency, or KUNA.

The oil minister said last week in Hong Kong that oil at $100 a barrel is a level that won't choke global economic growth, particularly in Asia . Saudi Arabia , a member of the Organization of the Petroleum Exporting Countries, is concerned about global economic growth, not about maintaining oil prices at any specific level, he added.

Mr. Naimi's latest comments were echoed by Kuwaiti oil minister Hani Hussein who said current oil prices are "fair," and Gulf producers are always working to stabilize crude markets, according to KUNA's report.
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