Saudi Arabia Seeks Lower Crude Price for Growth, Al-Naimi Says

Saudi Arabia’s Oil Minister Ali al-Naimi said he wants to see lower crude prices to help stimulate economic growth.

There is “no rational reason” for current high oil prices, al-Naimi said today in an editorial published in the Financial Times, echoing comments he made to reporters in Doha, Qatar on March 20. “Saudi Arabia would like to see a lower price,” he wrote.