, Columnist
Down In Saudi Arabia, They're Partying Like It's 2008
Trump aside, OPEC should look at its own unhappy history before getting carried away with the oil price.
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Is this really 2018? It started to sound a lot like 2008 in Saudi Arabia on Friday, as the kingdom's oil minister argued that the world could tolerate a higher crude price.
"I haven't seen any impact on demand with current prices," Khalid Al-Falih told reporters at the meeting of OPEC and non-OPEC producers in Jeddah. Arguing that the energy intensity of global economic growth hadn't declined, he offered the view that "there is the capacity for higher prices."