In the opinion of the Saudi oil minister Ali Naimi, the oil market is currently in "good shape", a view endorsed by the Kuwaiti oil minister. This has been taken to mean that Saudi Arabia will not be pressing for production cuts at this week's OPEC meeting; rather, it will be emphasizing the need for OPEC members to adhere to the existing quotas. "Saudi Arabia has said a price of about $75 per barrel was fair for the market -- a level that would encourage further investment in boosting global supplies while at the same time not straining a world economy struggling to come out from the worst global recession in decades."
Profile of Saudi Arabia
RSS News Reader
URL is here:
URL is here: