Saudi Arabia’s Energy Minister Blames Speculators For Oil Price Plunge

Oil demand is robust—it’s oil speculators that are behind the most recent drop in global crude oil prices, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman has said. Of demand, bin Salman said definitively, “It’s not weak. People are pretending it’s weak. It’s all a ploy.” The Saudi Energy Minister has lashed out repeatedly at traders and oil speculators, warning them earlier this year that anyone betting against crude oil would be “ouching like hell”. It is just one of many…