Naimi: No 'Dire Need' to Hike Saudi Energy Prices

摘要

Low oil prices are pressuring top oil exporter Saudi Arabia's budget, but the kingdom's financial situation is not so bad that it needs to increase energy prices to the public, Saudi Oil Minister Ali Naimi said Wednesday. At a press conference in Riyadh, Naimi rejected the idea that the government subsidizes energy prices, as the cost of production is still lower than the selling price. However, he did say the state does give a level of "assistance."