23-03-2015 10:21 AM
Saudi ambassador to the Organization 'OPEC' last Mohammed said on Sunday, it's hard to oil prices go back again to the range 100 to $ 120 a barrel, after the deterioration of prices of the past months. He informed the last conference of the energy sector in Riyadh: 'We understand that all countries need to higher income levels', and reiterated that there is no political motives behind the oil policy of the Kingdom. The current Brent crude price of about $ 55 a barrel. He went past: 'There is no political dimension to what we are doing in the oil ministry. Commercial and economic vision. Do not mean to harm any one and our vision is to simply follows: Low-cost producers have production priority, and the high costs of the owners will have to wait their turn. 'He added: 'We are not against any one nor against the US shale oil production.On the contrary, we welcome it because it achieves a balance in the market in the long run '. He said: 'Is OPEC was able to control the prices? If it is able to do, but not from OPEC price controls interest. In their interest to achieve a balance in the market. Price determined by the market and the market is subject to supply and demand '
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