APA Opposes U.S., Saudi Arabia Forming New Oil Cartel, CEO Sommers Says

Mar.24 — Mike Sommers, American Petroleum Institute chief executive officer, says he’d be against the U.S. and Saudi Arabia forming a new oil cartel. He speaks with Bloomberg’s Vonnie Quinn and Amanda Lang on “Bloomberg Markets.”

In This Story: Saudi Arabia

Saudi Arabia, officially the Kingdom of Saudi Arabia, is a country in Western Asia constituting the bulk of the Arabian Peninsula.

Saudi Arabia also has one of the world’s youngest populations, with approximately 50 percent of its population of 34.2 million being under 25 years old.

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