Allah Knows Best! Only Allah Can Set the Price of Oil, Claims Saudi Minister as Concerns Rise over Iran Oil

According to Ali Al-Naimi, "no one can set the price of oil"

DAILY EXPRESS: SAUDI Arabia's oil minister has claimed that only Allah knows whether oil prices will continue to fall.

Ali Al-Naimi said that "no one can set the price of oil – it's up to Allah."

The country has decided not to cut its levels of production – and prices could fall further if Iranian crude oil returns to the market.

Sanctions on Iran may be lifted as part of an international nuclear deal.

But Al-Naimi said: "I am not worried about Iranian crude, nor will I try to predict what the price is.

"If I were to predict, I would be somewhere else, gambling." » | Tom Parfitt | Wednesday, May 06, 2015