Long-term oil market fundamentals remain robust but prolonged low prices could threaten security of supply and pave the way for a price spike, Saudi Arabia’s vice oil minister said on Monday. The world’s largest crude exporter will continue investing in its oil and gas sector, Prince Abdulaziz bin Salman said in a speech at an Asian energy conference in the Qatari capital Doha. “Supply and demand patterns indicate that the long-term fundamentals of the oil complex remain robust,” he said. The comments suggest OPEC heavyweight Saudi Arabia is satisfied with its strategy of not cutting production and allowing low prices to reduce supplies, without losing market share to competitors. Oil prices, at around $47 a barrel, have more than halved since July 2014 on ample supplies. The Organization of […]