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Ali al-Naimi

Only Allah knows about oil prices: Saudi oil chief

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With speculation rife over how long Saudi Arabia is content to see oil prices slump, the country’s oil minister told CNBC that only Allah knows where prices are heading. Influential Saudi Oil Minister, Ali Al-Naimi, told CNBC Tuesday that “no one can set the price of oil – it’s up to Allah.” The remark comes […]

OPEC's Gulf Core Steels for Longer Wait, Lower Prices in Shale Struggle

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U.S. shale drilling may be slowing, but not fast enough for OPEC to change policy at its June meeting or to prevent oil prices maybe falling more, in the view of the group’s Gulf members. Actual oil output from the United States could prove harder to beat back, sources in the Gulf say after poring […]