All
 

 

Just in:  

You are here: Home»Markets»Energy»Middle East & Africa»Global oil supply plentiful, demand good: Naimi

oil-barrelSEOUL: Global oil supplies are plentiful and demand is good, while buyers and sellers are happy with current prices, top exporter Saudi Arabia's oil minister Ali Al-Naimi said on Tuesday.

 

"You know my desire is that people leave the market alone," Naimi told Reuters in an interview in Seoul. "You know why? Because everybody now is happy with where the prices are. Nobody is complaining about high prices or low prices."

 

"They are no longer sky rocketing or falling down. So I will really leave the market alone."

 

The oil minister had identified $100 a barrel as a suitable price earlier in the year. Brent crude is currently trading above $108 per barrel.

 

Asked if he was concerned about next year's demand growth because of the global economic uncertainty, Naimi said: "Mechanisms are working well. Supply is plentiful, demand is good."

 

On the supply front, he noted high US production along with a recovery in output from Iraq and Libya.

 

Copyright Reuters, 2012


 



 
Index Closing Chg%
Arrow DJIA 16,424.85 1.00
Arrow Nasdaq 4,086.23 1.29
Arrow S&P 1,862.31 1.05
Arrow FTSE 6,584.17 0.65
Arrow DAX 9,317.82 1.57
Arrow CAC-40 4,405.66 1.39
Arrow Nikkei 14,417.68 3.01
Arrow H.Seng 22,696.01 0.11
Arrow Sensex 22,277.23 0.92





where to buy

cheap wedding dresses

online - weddingdresstrend.com

Buy cheap Nike Mercurials cleats at mercurialscleats.com
cheap wedding dresses on SiteSteer.com - Best Online Wedding Store


Banking Review 2013


Buy direct from

China free shipping trade platform

Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln