Saudi official: U.S. shale boom helps stabilize global oil market

01/20/2014 | IndustryWeek

After meeting with Energy Secretary Ernest Moniz on Sunday, Saudi Arabia's Minister of Petroleum and Mineral Resources Ali al-Naimi touted the U.S. shale boom. "The kingdom welcomes this new source of energy that helps fulfill the growing world demand for energy and helps stabilize oil markets," he said.

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