Crude prices of around $100 a barrel are resonable for both consumers and producers, the oil minister of top oil exporter Saudi Arabia said Monday.
Crude prices of around $100 a barrel are resonable for both consumers
and producers, the oil minister of top oil exporter Saudi Arabia said Monday.
Oil is "around $100 a barrel, which is a reasonable price in global
markets for both producing and consuming nations," Ali al-Naimi said in
remarks published by the official Kuwait News Agency, or KUNA.
The oil minister said last week in
Hong Kong
that
oil at $100 a barrel is a level that won't choke global economic growth,
particularly in
Asia
.
Saudi
Arabia
, a member of the Organization
of the Petroleum Exporting Countries, is concerned about global economic
growth, not about maintaining oil prices at any specific level, he added.
Mr. Naimi's latest comments were echoed by Kuwaiti oil minister Hani Hussein
who said current oil prices are "fair," and Gulf producers are always
working to stabilize crude markets, according to KUNA's report.
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