Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

BREAKING NEWS

BREAKING NEWS

Saudi energy minister says no plans to break up OPEC

Saudi energy minister says no plans to break up OPEC
Saudi Arabia's Energy Minister Khalid al-Falih talks during the 23rd World Energy Congress in Istanbul, Turkey, October 10, 2016. REUTERS/Murad Sezer -
Copyright
Murad Sezer(Reuters)
Text size Aa Aa

ABU DHABI (Reuters) - Saudi Arabia is not preparing for a break up of OPEC and believes the group will remain the global central bank for oil for a long time, Saudi Energy Minister Khalid al Falih said on Monday.

Saudi Arabia's top government-funded think-tank has been studying the possible effects on oil markets of a breakup of OPEC, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Falih said the think-tank was just trying "to think outside the box" and analyse all scenarios but added that the Saudi leadership has "no consideration whatsoever to eliminate OPEC."

(Reporting by Dmitry Zhdannikov; editing by Louise Heavens)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.