Analysts' View: Saudi still favors $70-$80 oil | Reuters

Saudi Arabia reiterated it favored oil prices between $70-$80 a barrel and OPEC agreed to maintain output levels at a meeting on Saturday.

Following are comments from analysts:

EDWARD MORSE, MANAGING DIRECTOR, CREDIT SUISSE IN NEW YORK

'The fact that Naimi keeps saying $70-$80 a barrel makes it a meaningful statement.'

'When you have Venezuela saying $100 is adequate and Iran saying demand is weak even as it skyrockets, I think if they (the Saudis) don't want a confrontation they will quietly supply more to the market.'"

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