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Commodities Briefing - Categorized | Oil, Price Watch more

Oil prices proper, market stable: Saudi minister

Posted on 26 March 2013

Oil prices at around $100 a barrel are reasonable for both consumers and producers, OPEC heavyweight Saudi Arabia’s oil minister said, again highlighting the top crude exporter’s preferred oil price. Saudi Arabia’s Gulf ally Kuwait echoed the comments on price, saying the current levels were fair, with the market a little bit oversupplied.
“I just came from Hong Kong and I told everybody, in 1996, I thought $20 a barrel was reasonable; in 2006 I thought $27 a barrel was reasonable and now it is around $100 a barrel. I told them again it is reasonable,” Ali al Naimi told reporters asking him what the fair price for consumers and producers would be………………………………………..Full Article: Source


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