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Saudi Arabia has the ability to continue their oil and gas investment
- Categories:Industry News
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- Time of issue:2020-03-31 14:57
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Saudi Arabia has the ability to continue their oil and gas investment
- Categories:Industry News
- Author:
- Origin:
- Time of issue:2020-03-31 14:57
- Views:
Saudi Aramco (reserves) chairman Khalid al - Falih (December 28) said Monday, under the environment of low oil prices, Saudi Arabia has the ability to support longer than other oil producers, and said that despite a drop in oil prices, will continue to invest heavily in crude oil and natural gas.
Saudi aramco chairman said: "the Saudi survival ability is stronger than that of the other major rivals, can hold out until the oil market completely return to equilibrium."
Saudi aramco chairman's speech with the firm's position high echo each other, even if oil prices have continued to fall since 2014 years, the organization of petroleum exporting countries (OPEC), led by Saudi Arabia, still underweight high-yielding strategy remains the same.
Saudi aramco chairman, said: "our production policy is very clear, is to satisfy the needs of the consumers."
Saudi aramco chairman also points out that low oil prices reduce global oil production, investment, and stimulate demand next year, so the crude oil market next year will be to achieve equilibrium. Expects the price of crude oil recovery in 2016.
Brent crude oil futures hit last Tuesday since 2004, the lowest $35.98 a barrel.
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