Saudi Oil Minister’s Feeling Hurt “Don’t Call OPEC a Cartel !’
His Excellency Ali I. Al-Naimi,Minister of Petroleum and Mineral Resources,Kingdom of Saudi Arabia has a bit of a chip on his shoulder. The grand pooba of the world largest Oil Production Operation was interviewed on CNBC’s “The Call” this morning. Melissa Francis was interviewing the Saudi and called OPEC a Cartel. This hurt Al-Naimi’s feelings. Or maybe he just woke up on the wrong side of the Camel:
Francis: When do you think we’ll hit that $75-to-80 range that seem like almost everybody in the cartel agrees is sort of the equilibrium price?
Al-Naimi: You have to be careful calling OPEC a cartel. I resent that…..