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Commodities Briefing - Categorized | Market Moves, Oil more

Naimi: Global oil supply plentiful, demand good

Posted on 19 December 2012

Global oil supplies are plentiful and demand is good, while buyers and sellers are happy with current prices, top exporter Saudi Oil Minister Ali Al-Naimi said Tuesday. “You know my desire is that people leave the market alone,” he told Reuters in an interview in Seoul. “You know why? Because everybody now is happy with where the prices are. Nobody is complaining about high prices or low prices.”
“They are no longer skyrocketing or falling down. So I will really leave the market alone.” The oil minister had identified $100 a barrel as a suitable price earlier in the year. Brent crude is currently trading above $108 per barrel………………………………………..Full Article: Source


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