Sector News

Saudi Aramco CEO says oil market will rebalance itself, in time

January 23, 2015
(Reuters) – It will take some time for the oil market to rebalance, but the market will balance itself, the head of Saudi Arabia’s state oil company Saudi Aramco said on Wednesday.
Expectations of higher oil prices by many investors have been shaken to a large degree, said Saudi Aramco Chief Executive Khalid al-Falih, speaking at the World Economic Forum in Davos.
Saudi Arabia is the largest oil producer in OPEC, which in November declined to cut its oil output and decided instead to focus on market share.
(Reporting by Dmitry Zhdannikov; writing by Alex Lawler; editing by David Clarke)

comments closed

Related News

August 23, 2019

The higher purpose of being a CEO

Borderless Leadership

LinkedIn Twitter Xing EmailWhen I left my second large company experience to become President of a small manufacturing company I did so driven by ego; I fancied the title. Soon […]

August 23, 2019

As Brexit nears, Britain’s drugs, devices and pricing regulators seek the exit

Life sciences

LinkedIn Twitter Xing EmailFirm details on exactly how the U.K. will regulate new medicines is still to be decided after it leaves the EU later this year (caveats on timing […]

August 23, 2019

The Simply Good Foods Company acquires Quest Nutrition for $1bn

Consumer Packaged Goods

LinkedIn Twitter Xing EmailThe Simply Good Foods Company, the owner of Atkins-branded food products, has secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. Quest, which […]

How can we help you?

We're easy to reach