/ world today news/ Saudi Arabia is ready to increase oil prices, but only if non-OPEC countries do the same, said the kingdom’s oil minister, Ali al-Naimi.
“The Kingdom remains ready to help achieve market stability and increase the price of oil, but on condition that it involves (oil) exporting and importing countries, and on condition that it will be based on clear principles and transparency so that Riyadh and other Gulf countries, or OPEC countries, do not do this alone,” Al Naimi told Reuters.
Earlier, Ali al-Naimi said Saudi Arabia, the world’s biggest oil exporter, was raising prices for all May supplies to Asia amid increased global demand. According to him, global oil demand is recovering and the government can meet the demands of any customer. The level of production in the kingdom, according to Ali al-Naimi, has reached 10 million barrels per day.
In April, Saudi Arabia already increased the price of Arab Light oil to $1.4 per barrel. This is the most serious increase since January 2012. / RIA Novosti
Riyadh / Saudi Arabia
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