Saudi Chief: High Oil Prices Unwanted

(Reuters) — Top world oil exporter Saudi Arabia said on Sunday that OPEC producers want to avoid high oil prices that may harm global economic growth.

“OPEC-member states want stability in world oil markets and seek to avoid fluctuations in oil prices or a rise in prices to levels that would affect the global economy, especially that of developing countries,” Saudi Oil Minister Ali al-Naimi told the official Saudi Press Agency (SPA).
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