Saudi Arabia’s oil minister, Ali-al-Naimi, has called for Brent crude prices to fall to $100 a barrel because global supply is outweighing demand.

Brent has fallen 6 percent this month amid concerns that fuel demand will be badly impacted by concerns over Europe’s debt crisis. OPEC’s Secretary General, Abdalla el-Badri, said May 3 that the group is working to bring down the prices. OPEC is scheduled to meet next month. Its oil production is 8.3 percent more than what it considers to be necessary this quarter........................

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