Arab Today, arab today kingdom can meet market demand
Last Updated : GMT 02:18:28
Arab Today, arab today
Arab Today, arab today

Kingdom can meet market demand

Arab Today, arab today

Arab Today, arab today Kingdom can meet market demand

Riyadh - Arabstoday

Saudi Arabia has the ability to meet existing and future demand for oil, said Minister of Petroleum and Mineral Resources Ali Al-Naimi yesterday seeking to alleviate concerns about supply. He said that oil prices remain high and that he wished to see them at a lower level. “They are still high and we would like to see Brent at 100 dollars,” he said, adding that the “market determines the prices.” Al-Naimi said the Kingdom has been pumping crude “based on demand,” adding that production varied between 9.7 million bpd and 10.1 million bpd this year. “Sometimes 9.7 (million bpd), other times 9.9 (million bpd)... The highest this year it was 10.1 million barrels a day,” he said. Brent crude, which is used to price international varieties of oil, was trading above $113 a barrel in London yesterday. “We will provide the markets with what they need,” Al-Naimi said. “We will work to moderate prices.” Al-Naimi’s comments came at the end of a meeting of Gulf petroleum officials in Riyadh. “Our countries have exerted major efforts to restore global oil market stability, a feat that has actually been achieved,” Al-Naimi said during the meeting earlier. “Stability has been restored and oil prices returned to levels which are suitable to both the consuming and producing nations and to the global economy and its growth,” he said. He also announced the discovery of a new gas field 26 km to the north of Dhuba port in the Red Sea. From arabnews

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today kingdom can meet market demand Arab Today, arab today kingdom can meet market demand

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today kingdom can meet market demand Arab Today, arab today kingdom can meet market demand

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday