Saudi Oil Minister Ali al-Naimi said crude prices will rise and foresees that market forces and cooperation among producing nations will lead in time to renewed stability. “I am optimistic about the future, the return of stability to the global oil markets, the improvement of prices and the cooperation among the major producing countries,” al-Naimi said. “Market forces as well as the cooperation among producing nations always lead to the restoration of stability. This, however, takes some time.” Ali Bin Ibrahim al-Naimi Al-Naimi declined to comment when asked how the removal of economic sanctions against Iran might affect crude prices. Iran, freed of curbs on its oil exports, plans to boost shipments by 1 million barrels a day this year. Led by Saudi Arabia, the Organization of Petroleum Exporting Countries, which supplies about 40 percent of the world’s oil, abandoned limits on output on Dec. 4 amid efforts to […]