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Saudi 'welcomes' US shale oil boom

2014-01-19 11:42:00| Climate Ark Climate Change & Global Warming Newsfeed

Agence France-Presse: Saudi Arabia, an Organisation of Petroleum Exporting Countries kingpin, is unconcerned by the US shale oil boom, Oil Minister Ali al-Naimi said Sunday as he met the US energy secretary in Riyadh. "We discussed the increased production of shale oil in the United States and elsewhere. The kingdom welcomes this new source of energy that helps fulfil the growing world demand for energy, and helps stabilise oil markets," state news agency SPA quoted Naimi as saying. In October, oil production in...

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