A senior Gulf source said Saudi Arabia is working to lower oil prices, although the majority of Member States in the "OPEC" want to become a price level of $ 100 a barrel.
Gulf source told reporters that the oil market was well-balanced and there is no shortfall in supplies. The Kingdom currently produces about ten million barrels a day and will raise the other members of the OPEC production during the next few months. The source said, "We believe that the high price now is not supported by fundamental factors in the market at all."
"Most of the member states want a price at $ 100, including Saudi Arabia .. at the moment is the ideal price for the majority of states .. majority with the exception of one or two."
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