Saudi's oil minister confident market will recover as prices boost demand
He blames price slide on speculators and lack of cooperation from non-Opec members
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Abu Dhabi
SAUDI Arabia's oil minister on Sunday defended Opec's decision to keep output steady despite the biggest market slump in years, saying current prices would help global economic growth and petroleum demand, while Arab states would escape major damage.
Ali al-Naimi blamed a price slide to levels half of those six months earlier on speculators and what he called a lack of cooperation by major producers from outside of the Organization of the Petroleum Exporting Countries (Opec), misleading information and speculators' greed.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
