The Economic Times daily newspaper is available online now.

    Saudi energy minister says he is 'always comfortable' with oil prices

    Synopsis

    President Joe Biden's administration said in November it would release about 50 million barrels from its reserves in conjunction with other consumer nations, such as China, India and South Korea, to combat the rising cost of fuel.

    crude oilReuters
    Saudi Energy Minister Prince Abdulaziz bin Salman is "always comfortable" with crude prices, he said on Monday, adding that it was the U.S. government's prerogative whether to release supply from strategic petroleum reserves.

    President Joe Biden's administration said in November it would release about 50 million barrels from its reserves in conjunction with other consumer nations, such as China, India and South Korea, to combat the rising cost of fuel.
    "I'm always comfortable," the Saudi minister told reporters in Dubai, in response to a question about prices continuing to rise. "The word 'concern' is not in my vocabulary."

    The minister was attending the opening of the Abu Dhabi Sustainability Week Summit at the Expo 2020 site.


    (You can now subscribe to our Economic Times WhatsApp channel)
    (Catch all the Business News, Breaking News, Budget 2024 News, Budget 2024 Live Coverage, Events and Latest News Updates on The Economic Times.)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the ET ePaper online.

    ...more

    (You can now subscribe to our Economic Times WhatsApp channel)
    (Catch all the Business News, Breaking News, Budget 2024 News, Budget 2024 Live Coverage, Events and Latest News Updates on The Economic Times.)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the ET ePaper online.

    ...more
    The Economic Times

    Stories you might be interested in