A snippet from the Saudi oil minister last night.NEW YORK - Oil...

A snippet from the Saudi oil minister last night.

NEW YORK - Oil hit a fresh six-month high, bolstered by US consumer confidence data and comments from OPEC kingpin Saudi Arabia that prices may continue to rise.

Saudi Arabian Oil Minister Ali al-Naimi told journalists ahead of Thursday's OPEC meeting he hoped oil prices would hit $US75 a barrel between the third and fourth quarters of this year, well above lows in December below $US33 a barrel.

OPEC ministers meeting in Vienna are expected to leave output levels unchanged on expectations prices will continue to rise despite swollen stockpiles and slumping demand.

IF we ever get producing, (A Rigg take note) we may be profitable.