Costly oil could place a major strain on consumer countries with fragile economies, OPEC ministers said on Monday, in their clearest statements yet that they believe fuel demand has shrunk.
Leading OPEC member Saudi Arabia on Sunday confirmed the kingdom had cut output by more than 800,000 barrels per day(bpd) in March because of weak demand.
Saudi Oil Minister Ali al-Naimi said economic recovery was still weak in some countries.
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