Saudi Oil Minister Ali al-Naimi shrugged off suggestions that the world's biggest crude exporter might cut production to halt tumbling prices

Posted by optimuss > 2014-12-11 08:13 | Report Abuse

Saudi Oil Minister Ali al-Naimi shrugged off suggestions that the world's biggest crude exporter might cut production to halt tumbling prices, saying the Kingdom's output had remained steady through last month. Asked whether he thought it would be necessary to reduce oil production prior to OPEC's next scheduled meeting in June, he responded: "Why should we cut production? Why?"

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