Saudi oil minister says production cuts may continue

Abu Dhabi, United Arab Emirates • Saudi Arabia’s oil minister on Thursday suggested that production cuts agreed to by OPEC members and countries outside of the cartel may need to continue to help shore up crude oil prices. The comments by Khalid al-Falih carry significant weight as the kingdom is one of the world’s top oil producers. They come as the price per barrel stand above $50 and increases in U.S. shale oil production threaten to keep them low. “There is an initial agreement but it has no...

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