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OPEC’s Saudi Arabia ‘welcomes’ US shale oil boom

Posted on 23 January 2014

Saudi Arabia, an Organization of Petroleum Exporting Countries kingpin, is unconcerned by the U.S. shale oil boom, Oil Minister Ali al-Naimi said Sunday as he met the U.S. energy secretary in Riyadh.
“We discussed the increased production of shale oil in the United States and elsewhere. The kingdom welcomes this new source of energy that helps fulfil the growing world demand for energy, and helps stabilize oil markets,” state news agency SPA quoted Naimi as saying………………………………………..Full Article: Source


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