Saudi's Naimi says oil demand is growing, markets calm

Saudi Arabia's Oil Minister Ali al-Naimi. (File photo: Reuters)

Saudi Arabia's Oil Minister Ali al-Naimi said on Wednesday that oil demand is growing and markets are calm.

“Markets are calm now ... demand is growing,” Naimi told reporters on the sidelines of a conference in the port city of Jizan, southwest Saudi Arabia.

Naimi was the driving force behind OPEC's recent shift in policy choosing not to cut output at its last meeting in November to support oil prices - which have fallen about 50 percent since June - but instead to fight for market share.


Last Update: Wednesday, 20 May 2020 KSA 09:44 - GMT 06:44