Saudi Arabia is concerned by the recent increase in oil prices as the market is no longer short on supply, the country’s oil minister said on Monday. Ali al-Naimi said the Gulf state would continue to increase output to meet any additional demand but warned that the recent price spike was not due to lack of supply. “Saudi Arabia is concerned about rising oil prices in the international oil market. The current high price of oil is simply not supported by market fundamentals,” Naimi in a statement sent to the media. More from Gulf Business Yemen’s government has announced the death of a senior Al Qaeda leader, claiming he was killed during an operation in the south of the country. Said al-Shihri was reportedly killed in the Hadramawt area in circumstances which remain unclear. The Yemeni government on Monday claimed responsibility for the killing, but analysts have speculated it could
