Saudi Oil Minister Ali al-Naimi said Sunday he was confident that world prices would improve after a slide he blamed partly on “lack of cooperation” by producers outside the OPEC cartel.
“I am confident that oil markets will recover and that oil prices will improve,” Naimi told an energy forum in Abu Dhabi.
He said the sharp drop in prices was partly due to the “lack of cooperation by main producing countries outside OPEC misleading information and speculators’ greed.”