Tuesday, December 23, 2014

SAUDI ARABIA: OIL PRICE 'IRRELEVANT'

Saudi Arabia is vowing not to cut oil production to boost slumping prices.

The country's oil minister Ali al-Naimi suggested oil at $20 a barrel would be acceptable.

Brent crude prices are currently hovering around $60 a barrel - their lowest level in five years.

And Danny Cox of stockbroker Hargreaves Lansdown says Saudi Arabia is no longer targeting higher prices.

IN: "The oil...
OUT: ...oil price." 
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