
Commodities
Saudi Foreign Minister Doesn’t Anticipate Immediate Global Oil Shortage, Reports Reuters
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In Davos, Switzerland, Saudi Arabia’s Foreign Minister, Prince Faisal bin Farhan Al Saud, stated on Tuesday that the country does not anticipate an immediate shortage of oil. However, he acknowledged that there may be a limited shortage of oil products. This statement was made in response to inquiries regarding Riyadh’s refusal to comply with U.S. requests to increase oil production.
The Saudi minister shared these insights while addressing business leaders during the World Economic Forum held in the Swiss Alpine resort.