Saudi Finance Minister Says Oil Must Be Left To Supply And Demand

The G20 summit in Brisbane did not focus on the instability of oil prices as there is general agreement that the issue must be left to supply and demand, Saudi Arabian Finance Minister Ibrahim Alassaf said on Sunday.

“…In the past the kingdom’s role in oil market stability has been praised, so the issue has been discussed before and therefore didn’t get the same attention like the previous meetings,” Alassaf, who attended the meeting, told Al Arabiya television.

“Everybody agrees that the issue is subject to supply and demand and has to be left to supply and demand.”

Alassaf was replying to a question on whether the recent plunge in oil prices was on the G20 agenda.