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Saudi Oil Minister Rules out Crude Output Cut

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Saudi oil minister Ali al-Naimi ruled out a crude output cut in comments made to Saudi-owned al-Hayat newspaper published on Wednesday.

“Forget about this topic,” he told the paper, when asked about any possible reduction in his country’s production.

Leading oil producers, including Saudi Arabia, will meet in Qatar on Sunday to discuss an output freeze to support oil prices.

CNBC

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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