Oil minister says demand growing
Saudi Arabia “We want to see calm markets,” Al Naimi, said, on the sidelines of a conference at the port city of Jazan, southwest Saudi Arabia. “Saudi Arabia will remain the largest oil exporter,” he added.
The Organization of Petroleum Exporting Countries (<a href=’https://theenergyyear.com/companies-institutions/opec/’>OPEC), led by Saudi Arabia, decided in November 2014 to keep oil production targets unchanged. The surplus in global crude supply is less than the 1.8 million barrels a day estimated in January, Kuwait’s oil minister, Ali Al Omair commented this month.
Global oil demand rose 2.2 million barrels a day in December 2014 from 2013, the strongest growth in 18 months, energy research company Energy Aspects said February 25.
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