The US -Saudi Energy Minister of Oil Sakhr, despite the low oil prices

Abu Dhabi, United Arab Emirates – US Energy Minister Chris Wright does not feel concerned about the low oil prices and its impact on the rock oil industry in America, and confirms that the coming years should be a time to abundant energy for the world’s largest economy.

“The American rock industry will continue and flourish,” Wright said in an interview with Dan Murphy of CNBC in the capital of the United Arab Emirates Abu Dhabi. “But of course, investment decisions will be designed if the prices remain long to stay low for a long period of time. But I am completely up in the United States industry,” he added.

Oil prices were pressured amid low global demand, and uncertainty in escalating definitions, and The market supplies are increasing from both OPEC countries and OPEC – With revenue that threatens the validity of the rock producers.

The expiration contract was traded in June (June) from Benchmark Benchmark Brent at $ 63.51 a barrel on Friday at 1:43 pm in London, an increase of 0.28 % over Thursday’s settlement. The month of May US WTI The contract was at $ 60.26 a barrel, which is 0.32 % higher than the close price the day before. Both decades decreased about 22 % last year.

To make his point of view, Wright pointed to the period from 2014 to 2016, during which a boom coincided with oil rock production with a decrease in global demand and 70 % reduced oil prices. The industry was forced to deal with it The tide wave of bankruptcy.

But the Minister of Energy took an optimistic angle. “In 2015 and 2016, oil prices were twice $ 28 (a barrel), and what happened? What did the American rock industry at that time – innovation, more intelligent, and their costs decline, and this is what is happening now,” said Wright.

Commodity analysts estimate that American crude needs to stay over $ 65 a barrel to keep rock producers in business. Goldman SACHS this week reduced its oil prices for our WTI to $ 58 a barrel by December 2025 and $ 51 a barrel by December 2026, down from previous $ 66 for the barrel this year and $ 59 a barrel in 2026.

I saw himself as a former Chele Correspondent official, after his founding and work as CEO of the Denver Oil Services Services Company Freedom Energy Until you step down to join the administration of US President Donald Trump. Liberty Energy’s The share price has suffered Amid the slide of oil and commercial tensions, the shares decreased more than 46 % on an annual basis.

The Minister of Energy comes about a week after the OPEC alliance and its non -oil -producing partners, known as Opec+, The decision to shock is taken to accelerate It is already planned raw production outlets, adding more supply to a already saturated market. The decision helped to pay crude prices further.

In the long run, OPEC+ members need high oil prices to balance their budgets. On the contrary, Trump promised “drilling, child, drilling” to keep prices for American consumers, and has long been an audio for a long time about the desire in OPEC to pump more oil for this reason.

When asked if this could eventually put the United States and Obik in a collision course, Wright responded with negativity.

“I don’t think it is a collision course at all. What we see, and what I saw here in the Emirates, and you see in Saudi Arabia (the Kingdom of Saudi Arabia) and Qatar a long -term vision of energy,” said Wright.

“Yes, of course there are some additional reductions in the short term in revenue if you have low oil and gas prices. But the investments that are made here and the relationships that have been built here are looking for decades in the future.”

Wright insisted on the existence of a comprehensive alignment in the energy strategies in the United States and its Arab allies rich in oil, whose leaders are scheduled to meet during his visit in the Middle East, which comes before an expected visit to the region by Trump.

“The way to make American life is better, and the world’s citizens are better, it is greater energy, more affordable energy, and a more bright and prosperous future,” said Wright. “This is the way we are. I definitely think (the United Arab Emirates, Saudi Arabia and Qatar, I think we are all compatible with that task.”