LONDON (Alliance News) - Oil prices fell on Tuesday after Saudi Arabia said it would play a "responsible role" in energy markets, ahead of upcoming sanctions on Iran, CNBC reported.
Brent oil was quoted at USD77.77 a barrel at the London equities close from USD79.78 at the close Monday.
According to the American broadcaster, Saudi Energy Minister Khalid al-Falih told a conference in Riyadh on Tuesday the oil market was in a "good place" and he hoped oil producers would sign a deal in December to extend cooperation to monitor and stabilise the market.
In addition, Saudi Arabia has inked deals worth more than USD50 billion at an annual investment conference despite pull-outs from major business figures following the killing of Saudi dissident Jamal Khashoggi.
Saudi officials signed deals with company representatives from Netherlands-based Trafigura, France-based Total SA, South Korea's Hyundai Motor Co, China's Norinco, and US-based Schlumberger, Halliburton Co and Baker Hughes on oil, gas and infrastructure projects.
https://www.cnbc.com/2018/10/23/oil-markets-saudi-arabia-us-sanctions-on-iran-crude-exports-in-focus.html
