Saudi Arabia, the world’s biggest oil exporter, is not happy with current crude prices and is determined to see lower levels, Oil Minister Ali al-Naimi said. The kingdom is working toward its goal of seeing prices drop by highlighting there …

For some countries in the region, the budgetary break-even price is now nearly as high as current oil prices.  Saudi Arabia has the second highest break-even price in the GCC at US$80 per barrel, based on a forecast budget expenditure of US$ …

The upward trajectory in oil prices is actually a consequence of rising demand … Naimi claims Saudi Arabia’s current production capacity of 12.5 million daily barrels is “way beyond current levels demanded, and a reliable buffer against …

There is “no rational reason” for prices at current levels and Saudi Arabia would like to see them fall, the kingdom’s Oil Minister Ali al-Naimi said yesterday in an editorial in the Financial Times. The nation can boost output by 25 …

Saudi to do all it can to mitigate high prices, Naimi says — No lack of supply, no demand that cannot be met, he says RIYADH (MarketWatch)-Saudi Arabia’s Oil Minister Ali al-Naimi said that there is no rational reason for current high oil …

… oil tankers is heading from Saudi Arabia to the US in order to drive down “unjustified” oil prices of $127 per barrel. Saudi Arabia’s current capacity of 9.9 million barrels per day already exceeds self-imposed OPEC quotas. Saudi …

Brent crude prices have risen 15 … 12.5 million barrels per day from current levels just below almost 10 million. “There is no fear of disruption of supplies and you know Saudi Arabia is going to bring more oil to the market,” Maria van …

Saudi Arabia (OPCRSAUD) can increase crude production by as much as 25 percent immediately if needed, the country’s oil minister said … and the impact of current prices, and the fear that we will have a repeat of 2008,” al-Naimi said.

adding supplies were now outpacing global demand by more than 1 million bpd and that current prices are “unjustifiable”. “We are ready and willing to put more oil on the market, but you need a buyer.” Oil prices have risen 15 percent this year …