Oil supplies match demand: Saudi
Global oil supply is balanced with demand and market fundamentals are sound, Saudi Arabia's oil minister said on Friday as US President George W Bush pressed the oil-rich kingdom to increase output.
By PTI |
RIYADH: Global oil supply is balanced with demand and market fundamentals are sound, Saudi Arabia's oil minister said on Friday as US President George W Bush pressed the oil-rich kingdom to increase output.
"Supply and demand are in balance on Friday The fundamentals are sound," Ali al-Nuaimi told reporters as Bush held talks with King Abdullah as crude prices continued to rocket.
"How much more can we do," asked Nuaimi, whose country is the world's top oil exporter.
Crude prices surged to near 128 dollars per barrel on Friday.
"Supply and demand are in balance on Friday The fundamentals are sound," Ali al-Nuaimi told reporters as Bush held talks with King Abdullah as crude prices continued to rocket.
"How much more can we do," asked Nuaimi, whose country is the world's top oil exporter.
Crude prices surged to near 128 dollars per barrel on Friday.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
