9 years ago
I Don't Care If Prices Crash To $20 — We're Not Budging
Saudi Arabia convinced its fellow OPEC members that it was not in the group's interest to cut oil output however far prices may fall, the kingdom's oil minister Ali al-Naimi said in an interview with the Middle East Economic Survey. OPEC met Nov. 27 and declined to cut production despite a slide in prices, marking a shift in strategy toward defending market share rather than supporting prices.
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