OGJ Newsletter

11/08/2010
GENERAL INTEREST — Quick TakesAl-Naimi finds oil price band comfortableThe official with the world's most influence over oil supply says he finds the recent range of crude oil prices comfortable.Ali Al-Naimi, Saudi Arabia's minister of petroleum resources and minerals, told reporters at a conference in Singapore that oil prices, which have strayed little from a range of $70-80/bbl this year, are "in a very comfortable zone," according to Reuters.A recent rally has pushed the crude price above $80/bbl but is no cause for alarm, Al-Naimi said. The prevailing trading band should continue "for some time," he said."If I can be audacious, I would say producers, co...
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