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RPT-Saudi oil minister to face rival U.S. producers as price rout bites
2016-02-21 13:37:40| Energy - Topix.net
Feb 21 This week, Saudi Oil Minister Ali Al-Naimi will for the first time face the victims of his decision to keep oil pumps flowing despite a global glut: U.S. shale oil producers struggling to survive the worst price crash in years. While soaring U.S. shale output brought on by the hydraulic fracturing revolution contributed to oversupply, many blame the 70-percent price collapse in the past 20 months primarily on Naimi, seen as the oil market's most influential policymaker.
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Category:Energy and Environment