Saudi Arabia may resort to bank loans if it registers a deficit in state budget for the new year, which maintaining cash reserves, oil minister Ali Al-Naimi was quoted by Alhayat newspaper as saying.
The minister also ruled out the possibility that KSA cuts its oil output, saying the market share to be abandoned would be taken by another oil producer and crude prices will rise.
Al-Naimi reiterated his hopes that oil prices would return to their high levels, saying some producers would exit the market as global companies announced lowering their investment plans.