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Saudi Oil Minister Says He's Optimistic Crude Prices to Rise

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Saudi Oil Minister Ali al-Naimi said crude prices will rise and foresees that market forces and cooperation among producing nations will lead in time to renewed stability.

“I am optimistic about the future, the return of stability to the global oil markets, the improvement of prices and the cooperation among the major producing countries,” al-Naimi said. “Market forces as well as the cooperation among producing nations always lead to the restoration of stability. This, however, takes some time.”