Saudi Arabia: It is difficult to return the price of oil to $ 100

He said in a conference of the energy sector in Riyadh, "We understand that all countries need higher income levels ... We want it but we want it for us and for future generations."

The current price of Brent crude reached $ 55 a barrel.

He reconfirmed that there is no political motives behind the oil policy of the Kingdom.

He said, "There is no political dimension to what we are doing in the oil ministry – our vision is commercial and economic... we do not mean to harm anyone and our vision is to simply follows: Low-cost producers have priority of production and the high costs owners will have to wait their turn.

"We are not against any one nor against (US shale oil production) ... On the contrary, we welcome it because it achieves a balance in the market in the long term."

And directs some producers such as Iran sharply criticized Riyadh for its decision not to intervene to stop the decline in prices rather than trying to support by reducing the production of OPEC.

But Mathi said on Sunday that the low price is due to the fundamentals of supply and demand, not any non-economic policies.

"Was OPEC able to control prices? The answer is that if OPEC can control the price they would have done it but it is not the interest of OPEC to controls prices ." OPEC's interest is to achieve a balance in the market. Price is determined by the market and the market is subjected to supply and demand. "