Saudi Arabia Clarifies Position on Oil Market: Price Matters

Updated on
  • Oil Minister said higher prices needed to encourage investment
  • Deputy Crown Prince said $30 or $70 oil ‘all the same to us’

OPEC Fails to Agree on Oil Output Ceiling

Saudi Arabia not only cares about crude oil prices but wants them to go higher to encourage investment in future production, the country’s new energy minister said ahead of an OPEC meeting that failed to agree a deal to limit output.

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