No 43



Saudi Arabia Committed To $25/B Oil Price, Says Naimi

Saudi Arabia is committed to a preferred oil price of $25/B and is concerned at the recent rise in prices, Oil Minister Ali Naimi said in an interview with the Financial Times published on 21 October. He dismissed suggestions that OPEC might be moving to raise the ceiling of the OPEC basket price above $28/B. There is no change in Saudi oil policy, Mr Naimi said. We maintain that the $25 price for the OPEC...