Non-Opec producers blamed for oil slide - FT.com

Non-Opec producers blamed for oil slide - FT.com:



"The oil ministers of Saudi Arabia and the United Arab Emirates have blamed the rout in oil prices on producers outside Opec and reaffirmed their stance to hold output at current levels.



Ali al-Naimi, Saudi Arabia’s oil minister, said a lack of co-operation from countries outside of the cartel was a key contributor to the near 50 per cent slide in crude prices since the middle of June.



“The kingdom of Saudi Arabia and other countries sought to bring back balance to the market, but the lack of co-operation from other producers outside Opec and the spread of misleading information and speculation led to the continuation of the drop in prices,” he said at a conference in Abu Dhabi on Sunday, according to Reuters."



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