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Commodities Briefing - Categorized | Oil, People, Price Watch more

Naimi says $100 crude oil is reasonable price

Posted on 19 March 2013

Oil at $100 a barrel is a “reasonable” price that won’t choke global economic growth, Saudi Arabia’s Oil Minister Ali Al-Naimi said. “Prices will stay at these current levels in the foreseeable future,” he said today in a speech in Hong Kong, according to the text reported by the official Saudi Press Agency. “Current price levels will not affect economic growth in Asia,” he said.
Saudi Arabia, the world’s largest crude exporter, increased oil production and sales in January, according to figures from the Joint Organizations Data Initiative yesterday. The kingdom produced 9.25 million barrels a day in February, estimates from the International Energy Agency show………………………………………..Full Article: Source


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