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Sunday, December 6 - 2009

Saudi Arabia sees no change in OPEC output

  • Saudi Arabia: Sunday, September 27 - 2009 at 11:17

Ali al-Naimi, Saudi Arabia's Oil Minister, has told the Nightly Business Report on US PBS television that $75 a barrel is a fair price for oil and that there was no need for OPEC to change production ahead of its next meeting in December, Reuters has reported. Producers need an oil price that would allow supplies to be developed to meet demand, he said. "At $60 and $70 a barrel, you see a bigger movement in investment, you see more supply of energy," the minister said.

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