Guess All That Bowing Didn’t Help… Saudi Arabia to Keep Oil Prices Above $100 Per Barrel

Guess all that bowing didn’t help.

Despite record high oil prices Obama killed a pipeline that would have brought a steady supply of Canadian oil to the US.
And he killed a project that would have created at least 20,000 high-paying jobs. Maybe Obama and his environmentalist pals want higher oil prices?

Now this…
Saudi Arabia wants to keep oil prices above $100 per barrel.
The Pretoria News reported:

 

Saudi Arabia, the world’s top oil exporter, said on Monday it favours an oil price of $100 per barrel, identifying an ideal crude price for the first time in more than three years.

In an interview with CNN, the kingdom’s oil minister, Ali al-Naimi, also said Saudi could raise production to full capacity of 12.5 million barrels daily within 90 days.

“Our wish and hope is we can stabilise this oil price and keep it at a level around $100,” Naimi told CNN in an interview.

You Might Like