Saudi Minister in UAE Says Not Place to Comment on Oil Market
Saudi Oil Minister Says He’s Unconcerned About Rise in Prices
(Bloomberg) -- Saudi Arabia’s energy minister declined to comment on oil prices during a visit to the United Arab Emirates.
“It’s not the place. It’s not the time,” Abdulaziz bin Salman said at a renewable-energy event in Dubai. “We’re here to celebrate sustainability. And it’s a completely different event.”
The minister said he wasn’t referring to the oil market or prices when he said to reporters earlier: “I’ve always been comfortable.” He had been asked if he was concerned about the rise in oil prices. The prince typically comments on levels of supply and demand rather than price.
OPEC+, headed by Saudi Arabia and Russia, next meets to discuss its oil-production strategy on Feb. 2. Crude prices have risen to around $85 a barrel this year.
©2022 Bloomberg L.P.