STAVANGER Norway (Reuters) - The global oil price is market driven, fluctuating with supply and demand and the Organization of the Petroleum Exporting Countries or the International Energy Agency should not try to control it, the chief of Saudi Arabia’s state oil producer said.
“I share ... the belief that this is a market driven business, it’s not OPEC, the IEA, and consumers that should be in the business of trying to control the market,” Khalid Al-Falih, the chief executive of Saudi Aramco, told a conference in Norway on Monday.
“Supply and demand will play a key role. OPEC will take the price as it comes.”
Reporting by Balazs Koranyi and Joachim Dagenborg; Editing by Michael Urquhart