Saudi Arabian Oil Minister Ali al-Naimi

Saudi Arabian Oil Minister Ali al-Naimi

Vladimir Weiss/Bloomberg

Saudi Arabian Oil Minister Ali al-Naimi said on May 13 in Adelaide, Australia, that he wanted to see Brent drop to $100. U.S. crude inventories climbed by 2.21 million barrels in the week to May 25 to the highest level since 1990, an Energy Department report showed.