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‘It’s up to Allah’: Saudi Oil Chief Says No One Can Set Oil Prices

© Flickr / Bryan BurkeOffshore oil rig
Offshore oil rig - Sputnik International
The remark comes amid general speculation over how long Saudi Arabia will maintain its decision not to cut production.

Saudi Arabia’s oil minister, Ali Al-Naimi, said that "no one can set the price of oil — it's up to Allah."

The remark comes amid general speculation over how long Saudi Arabia will maintain its decision not to cut production.

His comments come after a turbulent twelve months for oil. The price of standard Brent crude has dropped from a peak of $114 a barrel last June to a six-year record low in January.

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