Saudi unlikely to cut soon despite oil under $100 | Reuters

Oil's fall below $100 a barrel is unlikely to trigger a swift supply cut from OPEC power Saudi Arabia, which is pumping at its highest rate in decades, because its budget can comfortably withstand a much lower price.
Others in the Organization of the Petroleum Exporting Countries, including Iran and Iraq, need a higher price than Saudi Arabia to balance budgets and they may call on Riyadh to throttle back when producers meet on June 14 to set output policy.
Having campaigned aggressively to bring down oil prices that were damaging global economic growth, Saudi Oil Minister Ali al-Naimi may be reluctant to turn down the taps just yet.

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