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Friday, 18 May 2018

Saudi Arabia assures on supply as oil hits $80 a barrel | Reuters

Saudi Arabia assures on supply as oil hits $80 a barrel | Reuters:

"Saudi Arabia said on Friday it is consulting other oil producers in and outside OPEC to ensure the world has adequate supplies to support economic growth after prices hit $80 a barrel for the first time since 2014.

OPEC’s most influential energy minister, Saudi Arabia’s Khalid al-Falih, said in a Twitter post that he had called his counterparts in the United Arab Emirates, the United States and Russia, as well as major oil consumer South Korea, to “coordinate global action to ease global market anxiety”.


Falih also said he had reassured the executive director of the International Energy Agency of “commitment to the stability of oil markets and the global economy” and that he would contact others over the next few days."



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