02 Nov 2010
(MENAFN) Saudi Oil Minister Ali Al Nuaimi, said that the current range of oil prices $70 to $90 is at a “suitable” rate, compared to a previous statement saying that oil price range of $70 to $80 were “ideal”, Gulf Daily News reported.
Al Nuaimi said that consumers are looking for oil prices around $70, but hopefully less than $90 per barrel.
Analysts commented that the Minister’s statement is probably the most convincing reason, since it gives an assurance that Saudi Arabia won’t do anything to prevent a further rise above $80 per barrel, projecting a green light for oil investors.
Dollar-denominated commodities have increased as the US dollar has weakened. The US Federal Reserve is opting for a new round of quantitative easing.
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more