| Don't be fooled by falling crude prices says Saudi Arabia's oil minister, it's all part of the plan. Saudi Arabia's oil minister Ali Naimi has finally broken his silence on falling oil prices declaring it’s "purely business" and that recent declines are not a scheme engineered by the kingdom to either bankrupt Russia, or shut down the US shale industry.
Speaking to Reuters in Mexico, Mr Naimi said: “Saudi oil policy has been constant for the last few decades and it has not changed today.” He added that: “We do not seek to politicise oil...for us, it’s a question of supply and demand, it’s purely business.” However, his remarks did little to settle the market with Brent crude falling almost 1pc lower at just under $81 per barrel...............................................Full Article: Source
|