Currency converter
^
News Feed
News Search Topics
ОК
Use filter
You can filter your feed,
by choosing only interesting
sections.
Loading

Oil minister says impossible for Saudi Arabia to reduce oil output

December 18, 2014, 16:47 UTC+3 ABU DHABI
The minister said any attempts of influencing the oil market with the aim of gaining political advantages could lead to mistakes
1 pages in this article

ABU DHABI, December 18. /TASS/. Saudi Arabia, the largest producer in OPEC, cannot cut its oil production despite slumping oil prices, the country’s oil minister, Ali Al-Naimi, said on Thursday.

"It is difficult, or even impossible, for Saudi Arabia or OPEC to undertake any measure that would lead to a reduction in [their] share of the market and an increase in that of others," who are not part of the oil cartel, the minister told the official Saudi Press Agency.

The minister said any attempts of influencing the oil market with the aim of gaining political advantages could lead to mistakes. “This is wrong,” he said.

"Price fluctuations in commodities, including oil, are normal," the minister said, adding that he is optimistic for the future as the crisis on the market is “temporary.”

Shortly after the interview was published, Saudi Arabia's Tadawul All Share Index surged 8.6%

Infographics Oil prices over 30 years Oil prices over 30 years
Year-average inflation-adjusted oil price. Infographics by TASS

Show more
In other media
Реклама
Реклама