Here is a very good story into the thinking of Saudi Arabia’s oil minister al-Falih:
Here are some highlights:
“I think managing in the traditional way that we tried in the past may never come again,” the minister, Khalid al-Falih, said on Thursday. “Certainly we will not go with certain price targets.”
“Oil producers should “let the market forces continue to seek and find that equilibrium price between supply and demand,” said Mr. Falih, speaking to a small group of reporters in his penthouse hotel suite.”
“Mr. Falih also recognized early on that growing concern for the climate could reduce demand for Saudi oil, creating a risk that a large portion of those resources might be left in the ground.”
And on increases scrutiny when Saudi Aramco goes public:
“A public listing might also improve the company’s performance.
“If you have to face the analysts every quarter,” he said, “it gives you a bit of competitive tension.””
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