25.03.2015 - Non-OPEC members must cooperate to boost oil price - Al Naimi
Members of the Organisation of the Petroleum Exporting Countries (OPEC) cannot be held solely responsible for the drop in oil prices, Saudi Arabia’s veteran oil minister has said. Ali Al Naimi called on non-OPEC members to cooperate in helping to raise the crude oil price, which has lost about 60 percent since mid-2014. “GCC countries have made serious efforts to balance oil prices, but the prices are set by the market,” he said. “We refuse to take responsibility alone because OPEC produces 30 percent of market output and 70 percent comes from outside.”..............................................Full Article: Source
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