Saudi oil minister plays down drop in oil price | GulfNews.com

Saudi oil minister plays down drop in oil price | GulfNews.com:



"Saudi Oil Minister Ali Al Naimi on Thursday played down the drop in oil prices saying this is not the first time crude prices slumped.



“Prices of oil always go up and down so I really don’t know why the big fuss about it this time,” Al Naimi told reporters ahead of a regular meeting for oil ministers of the Gulf Cooperation Council (GCC) states in Kuwait City.



The Saudi minister, whose country pumps over 9.5 million barrels per day, said any measures the Organisation of Petroleum Exporting Countries (Opec) needs to take regarding the price slump “should be discussed when Opec meets” in November."



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