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Tuesday, 7 March 2017

Saudi oil min says no 'free rides' for non-OPEC producers | Reuters

Saudi oil min says no 'free rides' for non-OPEC producers | Reuters:

"Saudi Oil Minister Khalid al-Falih said on Tuesday that oil market fundamentals were improving as an agreement to curb supply by OPEC and non-OPEC producers took effect. But he said the Organization for the Petroleum Exporting Countries would not let rival producers take advantage of the cuts to underwrite their own production investments. The group is expected to meet again in May, when it could consider extending the production curbs. Saudi Arabia had cut beyond what it had pledged in the agreement and brought the kingdom's output below 10 million barrels per day, he said. "



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