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2015-05-04 12:05:00

SAUDI&CHINA GROWTH

SAUDI&CHINA GROWTH

The head of oil in Saudi Arabia reaffirmed the country's commitment to supplying oil resources to meet increasing demand in Asia, Reuters reported. Oil Minister Ali al-Naimi recently visited China and said that oil demand in Asia is still strong, citing the increasing need for energy as the middle class grows.

With rapid industrialization in China, the industrial sector and other economic segments will require more energy resources like natural gas to fuel production. Naimi said the country's friendship with China would continue through this energy partnership.

"Oil will retain its pre-eminent position and Saudi…

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Tags: SAUDI, CHINA, OIL, GAS, PRICES
Chronicle:
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