Saudi Oil Minister Ali al-Naimi said that speculation in futures market was driving oil prices to uncontrollable levels.
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Speculation driving oil prices:
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Oil prices could reach $100 a barrel: official
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World crude prices threaten global economy
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Oil rises to $64 a barrel
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Crude oil hits high near $83 per barrel
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Oil prices surges above $70
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Crude oil prices encounter strong resistance
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Oil prices continue to rise
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Crude oil options volatility rises as underlying futures surge
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Oil prices jump more than 2%
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Oil futures trade below $40 a barrel
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High commodity prices emerge as top complaint
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Statoil expects costs to rise
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Opec oil output this month has been the highest in more than three years.
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'It makes no sense to hedge fuel prices in current situation'
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'Stepping into an oil industry nightmare'
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Oil prices jump