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Saudi Arabia still wants Brent at $100 per barrel

Posted on 12 December 2012

OPEC is expected to keep output unchanged. However, OPEC ministers, in particular Saudi Arabia’s Oil Minister Ali al-Naimi, are expected to use this week’s meeting in Vienna to again push for Brent to average closer to $100 per barrel, Chris Weafer, chief strategist at Moscow’s Sberbank Investment Research, wrote.
He reminded that Saudi Arabia’s Oil Minister successfully talked the price down from over $120 per barrel to under $100 per barrel in the spring against a backdrop of renewed global growth concerns………………………………………..Full Article: Source


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