Ali al-Naimi says that OPEC’s actions are “the correct path forward”
During a speech at the German-Arab Friendship Association in Berlin, Saudi Arabian oil minister Ali al-Naimi said OPEC’s decision to maintain oil production last year is “the correct path forward.” Many have claimed that Saudi Arabia is waging a price war on U.S. shale production, but the Saudi oil minister dismissed this idea, even calling shale production a “welcome development,” reports The Wall Street Journal.

“New oil supply growth – much of it from the U.S. – is a we...

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