You are here

Saudis rope in Venezuela to check US shale threat

Riyadh's strategy may be to cut oil prices to US and dampen investor interest in drilling for shale
Thursday, November 6, 2014 - 05:50

BT_20141106_OIL6_1353771.jpg
Mr Al-Naimi may be trying in his trip to Venezuela to collect pledges to cut output, says one analyst

New York

THE Saudi oil minister's visit to Venezuela this week is also a trip through time. Flash back to December 1998 when Saudi Arabia looked to its fellow Opec member for help in lifting oil prices from about US$10 a barrel.

Back then, the Saudis were defending their dominance

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom