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Saudi minister ‘confident’ oil prices will improve

Posted on 22 December 2014

Saudi Oil Minister Ali al-Naimi said on Sunday he was confident world prices would improve after a slide he blamed partly on “lack of cooperation” by producers outside the Opec cartel. “I am confident that oil markets will recover… and that oil prices will improve,” Mr Naimi told an energy forum in Abu Dhabi.
He said the sharp drop in prices was partly due to the “lack of cooperation by main producing countries outside Opec, misleading information and speculators’ greed.” Mr Naimi, whose country is Opec’s leading producer, said producers from outside the cartel would eventually “realise the importance of cooperation to secure new fair prices.”……………………………………….Full Article: Source


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