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Saudi Arabia denies accusations of manipulating the price of oil

on Tue Jan 19, 2016 11:36 pm
Minister of Foreign Affairs of Saudi Arabia, Adel al-Dzhubeyr commented on the assumption that with the help of cheap oil Riyadh putting pressure on Tehran, reports CNN.

"People need to go back to Adam Smith and the base (the principles of) economy. It's something in the area of ​​supply and demand ", - the minister said.

He added that the market itself should determine the price of oil. Its current price is the market, stressed al-Dzhubeyr.

"You can not manipulate the market and be able to do it systematically," - said the head of the Saudi Ministry of Foreign Affairs.

According to him, when rendering will have to pay a huge price. He also said that the Middle East conspiracy theories describe the actions of the great powers, and in the West in conspiracy theories mentioned oil-producing countries.

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