Bloomberg: "Saudi Arabia is comfortable with oil above $80"

Baku. 18 September. REPORT.AZ/ Saudi Arabia is now comfortable with Brent oil prices rising above $80 a barrel, at least in the short term, as the global market adjusts to the loss of Iranian supply from U.S. sanctions, according to people familiar with the kingdom’s view.

Report informs citing RIA Novosti that in recent weeks, Saudi Oil Minister Khalid Al-Falih and other senior officials have discussed the oil market with investors, traders and other market participants in London, Houston and Washington, the same people said on condition of anonymity because the talks were private.

According to the agency, Saudi officials were careful to avoid pinpointing a price target in their conversations, saying that while the kingdom has no desire to push prices higher than $80 a barrel, it may no longer be possible to avoid it.

Notably, US president Donald Trump on May 8 announced the withdrawal of Washington from Iran nuclear deal and reported on the restoration of all sanctions against Iran, including secondary ones.