| Saudi Arabia wants higher oil prices. Really. At least, that’s what its oil minister has been saying in recent interviews in the US and Europe. But higher oil prices require a higher world demand for oil, a lower supply of oil, or a combination of both.
The trouble is that Saudi Arabia doesn’t control the world demand for oil, which is growing at a slow pace, tracking a weak global economy. And while Saudi Arabia has some control of the supply of oil, it does nothing to make oil prices go higher...............................................Full Article: Source
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