Oil prices 'heading towards stability'
Riyadh, December 26, 2009
Oil prices are heading towards stability and might even rise "reasonably”, Saudi Arabia's King Abdullah was quoted as saying by a Kuwaiti newspaper.
'Oil prices are heading towards stability and might rise reasonably,' King Abdullah told al-Seyassah's Saturday edition, according to an advance copy obtained by Reuters late on Friday.
'We expected at the beginning of the year an oil price between $75 and $80 per barrel and this is a fair price,' he said.-Reuters
More Energy, Oil & Gas Stories
- Egypt/Saudi grid tenders to be launched in 2014
- Scottish oilfield firm expands in Mideast
- Global oil demand growth 'gaining momentum'
- Taqa targets $20m saving with HQ restructure
- Total seals Oman deepwater drilling deal
- Egypt in gas price talks with foreign firms
- Exxon offers rare Saudi gasoil term contract
- 40 Chinese firms to exhibit at energy summit
- More refinery closures on the cards for 2014: IEA
- Libya’s eastern oil ports likely to reopen Sunday