| Recent falls in the price of oil are likely to be temporary, says the oil minister for Saudi Arabia, Opec's biggest producing nation. Ali al-Naimi said commodity price fluctuations were to be expected and said he was hopeful for the future.
He added it was "difficult, or even impossible, for Saudi Arabia or Opec to undertake any measure that would lead to a reduction in [their] share of the market and an increase in of others". The price of oil has halved since June. On Thursday, the price of Brent crude was just below $63 a barrel, while US crude was near $58...............................................Full Article: Source
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