Saudi minister’s visit

HOUSTON: This week, Saudi Oil Minister Ali Al-Naimi will for the first time face the victims of his decision to keep oil pumps flowing despite a global glut: US shale oil producers struggling to survive the worst price crash in years. While soaring US shale output brought on by the hydraulic fracturing revolution contributed to oversupply, many blame 70 per cent price collapse in past 20 months primarily on Naimi, seen as oil market’s most influential policymaker.