Saudi Arabia’s Naimi Denies Price War, Seeks Steady Oil
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Saudi Arabia remains committed to seeking a stable oil price and speculation of a battle between crude producers “has no basis in reality,” the country’s Oil Minister Ali Al-Naimi said.
“Saudi oil policy has remained constant for the past few decades and it has not changed today,” al-Naimi said at a conference in Acapulco, Mexico, today. “We want stable oil markets and steady prices, because this is good for producers, consumers and investors.”