Saudi Arabia’s (OPCRSAUD) Oil Minister Ali al- Naimi said he wants to see lower crude prices to help stimulate economic growth.
There is “no rational reason” for current high oil prices, al-Naimi said today in an editorial published in the Financial Times, echoing comments he made to reporters in Doha, Qatar on March 20. “Saudi Arabia would like to see a lower price,” he wrote.
Brent crude gained 15 percent this year partly because of concern that tensions between Iran and western nations may reduce exports. The market remains vulnerable to supply disruptions from the Middle East, Jeffery Currie, head of commodities research at Goldman Sachs Group Inc., said today in a report.
No comments:
Post a Comment