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Prince Alwaleed: Oil will never see $100 again

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The lack of balance between oil's supply and demand means the road back to $60-$70 range will be "not that easy, not that quick," the prince said, adding that markets may not even have found the bottom yet.

Alwaleed said he thought oil's price could lead to political turmoil in countries like Venezuela that depend so much on the commodity and "don't have a lot of extra wealth on the side for that rainy day"—unlike Saudi Arabia and its neighbors.

Following Abdullah's death, Crown Prince Salman bin Abdulaziz became king of the world's top oil exporter.
Salman is a reformer at heart, Alwaleed said, and the country will continue down the same paths of financial, social and political reform as during Abdullah's reign.


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