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29 March 2024

'Let oil rest', says Saudi oil minister

Ali Al Nuaimi. (File)

Published
By Staff

Saudi Arabia’s oil minister, Ali Al Nuaimi, whose Gulf kingdom is the world’s largest crude exporter, used a tactful expression to dodge a barrage of questions by journalists about the oil market at a local mineral resources exhibition.

“Let oil rest,” he told the reporters at the show in the Eastern region, in an apparent attempt to shun answering questions about the sensitive oil market.

He had the same answer for them when they asked about the planned gasline between the capital Riyadh and the Eastern province.

“Let gas rest,” he said while smiling at journalists, who appeared to be grudgingly returning the smile.

Saudi Arabia pumps just below 10 million barrels per day of crude and it controls nearly 265 billion barrels of proven oil deposits, nearly 15 per cent of the world’s total. It also has the fourth largest gas reserves after Russia, Iran and Qatar.