Saudi oil prices With all due respect to the top energy official of the world's most important oil-producing country, Saudi Arabian Minister of Petroleum and Mineral Resources Ali I. Al-Naimi has it wrong. If he truly wants lower oil prices, he has the unalterable ability to make that happen. In a recent op-ed piece in the Financial Times, Al-Naimi stated, "Saudi Arabia does not control the price; it sells its crude oil according to international prices." This statement implies that Saudi Arabia is somehow forced to adopt prices listed on some international price list as the Saudi Official Sales Prices (OSP). Does it not stretch one's credibility to believe that the largest prod...

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