Economics
Saudi Arabia Confident in Oil Rebounding on Global Growth
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Saudi Arabia, the world’s largest oil exporter, is confident that crude prices will rebound with global economic growth boosting demand.
Prices will recover from a slump due to a glut created by a lack of cooperation from producers outside the Organization of Petroleum Exporting Countries, Saudi Arabia Oil Minister Ali Al-Naimi said at a conference in Abu Dhabi yesterday. Al-Naimi ended his speech showing the confidence as he jumped off the stage and smiled.