Saudi Arabia has expressed concern over the high price of crude oil.
A senior Saudi energy official said high oil prices could harm the global economy. He said the market contained sufficient supplies of crude oil and that Saudi Arabia did not need to sustain output.
"We are not comfortable with oil prices where they are today," Saudi Aramco Chief Executive Khalid Al Falih said. "I am concerned about the impact it could have on the global economy."
In an address to an oil conference in South Korea on April 27, Al Falih said Saudi crude oil production capacity was stabilizing the market amid the halt in Libyan supplies. He said two-thirds of Saudi exports went to Asia, particularly China.
World Tribune
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2 comments:
They have to much power over our economy with their oil strangle hold. We have more oil in our own country than they do in there's. Drill here Drill now !
I'm not too comfortable with the price either. But I DON'T HAVE CONTROL OVER THE PRICE, Mr. Saudi prince.
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