The situation in the world oil market is being fueled by oversupply, Saudi Foreign Minister Adel al-Jubeir said in an interview with CNN.
He recommended "to go back to basic economics". "It's about supply and demand," the minister said.
According to him, the market cannot be manipulated constantly. "We must let market forces play out. If you try to manipulate it, eventually you overshoot or undershoot and you pay a tremendous price for it," TASS cited Adel al-Jubeir as saying.
