Only Allah can set the price of oil - Saudi Arabia's Oil Minister

The issue of slumping prices in oil world wide has gone spiritual.The Saudi Arabia's oil minister Ali bin Ibrahim Al-Naimi stated his opinion during a recent chat with CNBC.he said “no one can set the price of oil – it’s up to Allah”.

Al-Naimi was uptimistic that he was "not worried at all" concerning the prospect of Iranian crude coming back into the market if sanctions against Iran are lifted as part of an international nuclear deal. Such a move he said could drive prices lower, as it would add to the global glut in supply.