Latest Breaking News On - Tuesday saudi arabia - Page 1 : comparemela.com

DUBAI (Reuters) -Saudi Arabia's decision to postpone oil capacity expansion plans should not be interpreted as an assessment that demand for crude is falling, OPEC's Secretary General said on Tuesday. "First of all I want to be clear I cannot comment on a Saudi decision . but this is in no way to be misconstrued as a view that demand is falling," Haitham Al Ghais told Reuters in Dubai on the sidelines of the World Governments Summit. Sources have told Reuters the kingdom's surprise reversal of its oil expansion plan was at least six months in the making and based on an assessment that much of Saudi Arabia's excess capacity was not being monetised.

Saudi arabiaUnited arab emiratesHaitham al ghaisMaha el dahanAl ghaisMichael georgyGeneral haitham al ghaisTuesday saudi arabiaWorld governmentsSaudi arabiaWorld oil demandDemand forecasts