2 Gulf oil ministers mum on issue of oil production cuts
November 29, 2017
DUBAI, United Arab Emirates (AP) — Energy ministers from both Saudi Arabia and the United Arab Emirates dodged questions Tuesday about whether OPEC will extend the cartel's oil production cuts, saying the decision will come at a planned meeting in Vienna later this week.
OPEC agreed in September 2016 to cut daily production across the 14-nation organization to 32.5 million barrels of oil a day. Russia and other non-OPEC nations also agreed to cut their production, hoping to boost prices weakened by oversupply in the market.
Khalid al-Falih, the Saudi energy minister, told journalists they...