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Saudi crown prince blames weak growth for oil \\\'tensions\\\'

January 07, 2015 00:00:00


RIYADH, Jan 6 (AFP): A weak global economy is the main reason for "tensions" in world oil markets, Saudi Arabia's crown prince said on Tuesday, in a speech on behalf of ailing King Abdullah.

"You are aware of the urgent tensions taking place in the international oil market, caused by a number of factors, foremost the weak global economic growth," Crown Prince Salman said in an annual address to the Shura Council, an appointed body which advises the monarch.

"This development is not new in the oil market, and the kingdom has in the past dealt with it firmly and wisely," he said in the speech on behalf of King Abdullah, aged around 90, who has pneumonia and was hospitalised last week.

Salman, who is next in line to the throne, said the kingdom will maintain its "same approach" towards the oil market.


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