Saudi en­ergy min­is­ter wor­ries about oil prices

The Bradenton Herald - - Monday Business -

Saudi Ara­bia’s en­ergy min­is­ter said Sun­day that ma­jor oil pro­duc­ers need to do bet­ter to nar­row swings in prices that dip be­low $60 a bar­rel and rise above $86.

“I think what we need to do is nar­row the range … of volatil­ity,” Khalid al-Falih told the At­lantic Coun­cil’s Global En­ergy Fo­rum in Abu Dhabi.

Cau­tious not to set a price tar­get, he ex­plained there are con­se­quences when oil prices dip too low or rise too high.

Last month, OPEC coun­tries and other ma­jor oil pro­duc­ers agreed to cut pro­duc­tion by 1.2 mil­lion bar­rels a day to boost prices for the first six months of 2019.

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