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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

Mon, Dec 22, 2014 - 5:50 AM

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.

PHOTO: AFP

Abu Dhabi

SAUDI Arabia's oil minister on Sunday defended Opec's decision to keep output steady despite the biggest market slump...

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