Naimi Says $100 Crude Oil Is Reasonable Price

Oil at $100 a barrel is a “reasonable” price that won’t choke global economic growth, Saudi Arabia’s Oil Minister Ali Al-Naimi said.

“Prices will stay at these current levels in the foreseeable future,” he said today in a speech in Hong Kong, according to the text reported by the official Saudi Press Agency. “Current price levels will not affect economic growth in Asia,” he said.