April 17, 2016, 17:43 | Saudi Arabia | oil | OPEC | prices
Saudi Arabia will not seek higher oil prices. This was stated by Deputy Crown Prince of Saudi Arabia, Prince Muhammad bin Salman.
“If the barrel will rise in price up to 60-70 dollars, it will give impetus to the economy. But this is not our war. It is a war of other countries suffering from the decline in prices. Our program does not require a price increase, “- he said in an interview with Bloomberg
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After the Iran-market energy supply exceeded demand by 1.5 million barrels per day. However, since January 2016, when the price per barrel fell to $ 32, oil is more expensive. On April 15 a barrel of Brent crude oil cost $ 43.
Prince Muhammad said it would be willing to submit to the decision of OPEC and introduce production quotas, if the decision to join the other members of this organization, especially Iran. However, Iranian officials have called the proposal “ridiculous.” As you know Iran is not participating in today’s conference in Doha.
The main supporter of the mining limits is Russia, not a member of OPEC.
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