The President of state-owned Saudi Aramco says prices are too low, but it’s not Saudi’s responsibility to bolster them
Khalid al-Falih, President and CEO of state-owned Saudi Aramco, said that while prices are “too low for everybody,” it is not the sole responsibility of Saudi Arabia to cut production in order to shore up the price. “Supply and demand and the rules of economics will govern. It will take time for the current glut to be removed,” he said at a conference in Riyadh.

While al-Falih agreed that low prices are a detriment to every...

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