Olivier Jakob from Petromatrix consultancy: We interpret this as Saudi Arabia selling the idea that oil prices in the short term need to go lower, with a floor set at $60 per barrel, in order to have more stability in years ahead at $80 plus, in other words, it should be in the interest of OPEC to live with lower prices for a little while in order to slow down development projects in the United States.

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We interpret this as Saudi Arabia selling the idea that oil prices in the short term need to go lower, with a floor set at $60 per barrel, in order to have more stability in years ahead at $80 plus, in other words, it should be in the interest of OPEC to live with lower prices for a little while in order to slow down development projects in the United States.

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Source:: Reuters 10 years ago

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