Naimi's comments on the sidelines of an annual U.N. climate change conference in Lima stuck to the message he laid out at OPEC's meeting two weeks ago: The market would be left to balance itself without the kingdom's intervention. That stance was seen as a shift from long-standing Saudi policy to act as a swing supplier.
Oil prices have dropped $13 a barrel since that November meeting. Yet asked Wednesday whether he thought it would be necessary to reduce oil production prior to OPEC's next scheduled meeting in June, Naimi responded, "Why should we cut production?"
At the same event, Venezuela's foreign minister and top OPEC emissary, Raphael Ramirez, provided his country's answer to Naimi's question: OPEC must act, he told Reuters, because "that is our job. We want stability in the market and predictability."
Naimi's comments on the sidelines of an annual U.N. climate change conference in Lima stuck to the message he laid out at OPEC's meeting two weeks ago: The market would be left to balance itself without the kingdom's intervention. That stance was seen as a shift from long-standing Saudi policy to act as a swing supplier.
Oil prices have dropped $13 a barrel since that November meeting. Yet asked Wednesday whether he thought it would be necessary to reduce oil production prior to OPEC's next scheduled meeting in June, Naimi responded, "Why should we cut production?"
At the same event, Venezuela's foreign minister and top OPEC emissary, Raphael Ramirez, provided his country's answer to Naimi's question: OPEC must act, he told Reuters, because "that is our job. We want stability in the market and predictability."
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Naimi's comments on the sidelines of an annual U.N. climate change conference in Lima stuck to the message he laid out at OPEC's meeting two weeks ago: The market would be left to balance itself without the kingdom's intervention. That stance was seen as a shift from long-standing Saudi policy to act as a swing supplier.
Oil prices have dropped $13 a barrel since that November meeting. Yet asked Wednesday whether he thought it would be necessary to reduce oil production prior to OPEC's next scheduled meeting in June, Naimi responded, "Why should we cut production?"
At the same event, Venezuela's foreign minister and top OPEC emissary, Raphael Ramirez, provided his country's answer to Naimi's question: OPEC must act, he told Reuters, because "that is our job. We want stability in the market and predictability."
การแปล กรุณารอสักครู่..
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