Gulf countries to feel the heat if output is not cut at Opec meet | GulfNews.com

Gulf countries to feel the heat if output is not cut at Opec meet | GulfNews.com:



"Gulf countries are likely to feel the heat of revenue loss if oil production is not slashed at the crucial Organisation of the Petroleum Exporting Countries (Opec) meet in Vienna on Friday, analysts predicted.



Ali Al Naimi, the oil minister of Saudi Arabia, indicated that he is in no mood to cut oil production in a bid to reduce supply and support prices, reported by Reuters on Tuesday.



“Demand is picking up. Good! Supply is slowing, right? That is a fact,” he said ahead of the group’s key meeting in Vienna."



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