Oil Price to Remain in ‘Comfortable Zone,’ Saudi’s Naimi Says
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Oil prices are likely to remain in a “very comfortable zone” even as the market is oversupplied, Saudi Oil Minister Ali al-Naimi said in a speech in Singapore.
“The zone should continue for some time, longer than most people think,” al-Naimi said today at the Singapore Energy Summit. “The market is very well-supplied. A little bit oversupplied but it doesn’t seem to be depressing the price.”