Market has capacity to absorb higher oil prices: Saudi minister | 2018-04-20 | daily-sun.com

Market has capacity to absorb higher oil prices: Saudi minister

AFP     20th April, 2018 06:15:20 printer

Market has capacity to absorb higher oil prices: Saudi minister

Saudi Energy Minister Khaled al-Faleh said on Friday the global market has the capacity to absorb higher oil prices after crude made a strong recovery.

 

"I have not seen any impact on demand with current prices. We have seen prices significantly higher in the past -- twice as much as where we are today," Faleh told reporters ahead of an oil producers' meeting in Jeddah, Saudi Arabia.

 

"Energy intensity as you know has declined significantly ... this reduced energy intensity and higher productivity globally of energy input leads me to think that there is the capacity to absorb higher prices," Faleh said.


Top