Oil giants can't come to an agreement on where prices could go

Reuters/Sebastian Derungs Saudi Arabia’s energy minister Khalid al-Falih spoke at the Oil & Money Conference in London this week, where he offered a robust defense of OPEC’s 2014 decision to not intervene in the market to try to support oil prices. He also warned that future supply shortages could lead to a price spike. “Now consider if OPEC had cut production to maintain supply-demand balances. The effect would have been to encourage continued investments in expensive resources like shale...