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Email this article: Saudi Arabia says Brent oil should drop to US$100 a barrel
Posted: Sun May 13, 2012 10:40 am
SAUDI ARABIA. Crude prices should fall because global supply is outweighing demand, according to Saudi Arabia's oil minister, Ali al-Naimi.
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SAUDI ARABIA. The combination of accelerating US supply, weaker than expected global demand, stabilization in geopolitics, and an appreciation of the dollar, led to oil prices dropping to an average of US$102 per barrel, according to the latest Jadwa Investment Global Oil Market Update.
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