Saudi oil minister says OPEC strategy working

[WorldNews]

View attachment 22481​

OPEC's strategy of not cutting production in order to maintain market share is working, Saudi Arabia's oil minister said Monday as he arrived for a meeting of the cartel to decide on output levels. Asked if this strategy pushed by OPEC kingpin Saudi Arabia was working, Ali al-Naimi told reporters in Vienna: "The answer is yes... Demand is picking up. The 12-nation OPEC cartel, pumping some 30 percent of the world's oil, is expected on Friday to maintain its official production target of 30 million barrels per day (bpd).

Continue reading...