ABU DHABI, Feb 13 (Reuters) - Kuwait Petroleum International said on Saturday oil prices could reach a range of $50 to $60 a barrel by mid-2017, the official Kuwait news agency reported.

The agency quoted the company's top executive Bakheet al-Rashidi as saying prices could reach the range of $60 to $80 a barrel in three years' time.

"The global oil market is going through a correction and we have reached the bottom and the crude oil price has reached its lowest level in the past decade," he was quoted as saying by the agency adding that Rashidi had made his comments at a company event in London.

(Reporting By Ali Abdelatty; Writing By Maha El Dahan; Editing by Toby Chopra) ((Maha.Dahan@thomsonreuters.com; + 9712 4082101; Reuters Messaging: maha.dahan.thomsonreuters.com@reuters.net))

Keywords: KUWAIT OIL/