Saudi demand optimism lifts oil prices

April 9, 2015 1:38 PM

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Saudi demand optimism lifts oil prices

World is on a "progressive track" for recovery, Saudi oil adviser says.

Ibrahim al-Muhanna, an adviser to the Saudi Petroleum Ministry, said before the Saudi Economic Association in Riyadh the bear market for crude oil was an unnatural and temporary market phenomenon given growth expectations in a recovering global economy.

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