The Traderszone Network

Published in TZ Latest News 22 March, 2015 by The TZ Newswire Staff

Saudi Arabia’s OPEC governor: hard to reach $100-120 oil again

Saudi Arabia’s OPEC governor Mohammed al-Madi said on Sunday that he believed it would be difficult for oil to reach a price range of $100-120 per barrel again. He also repeated that Saudi Arabia had no political motives in its oil policy. “There isn’t any political dimension in what we do at the oil ministry – our vision is commercial and economic…We didn’t mean to hurt anybody, our vision is simply the following: the producers which have low costs have to have the priority to produce, but those who have high costs have to wait for their turn to produce,” he said.

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