The energy minister says petroleum reserves are only meant to be used in emergencies Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, has criticized nations for tapping their emergency oil stockpiles in order to manipulate prices, and warned of consequences if the reserves run dry. “It is my profound duty to make clear to the world that losing emergency stocks may be painful in the months to come,” the Saudi minister told the Future Initiative Investment conference in Riyadh on Tuesday. He noted that the US’ Strategic Petroleum Reserve (SPR) was not intended to relieve price pressures, but instead was
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