A senior Saudi energy official said high oil prices could harm the
global economy. He said the market contained sufficient supplies of crude
that Saudi Arabia did not need to sustain output.
"We are not comfortable with oil prices where they are today," Saudi
Aramco Chief Executive Khalid Al Falih said. "I am concerned about the
impact it could have on the global economy."
Also In This Edition
In an address to an oil conference in South Korea on April 27, Al Falih
crude oil production capacity was stabilizing the market amid the halt in
Libyan supplies. He said two-thirds of Saudi exports went to Asia,