Saudi Arabia: “Forget about oil production cuts”


Saudi authorities do not intend to cut oil production, said Oil Minister of Saudi Arabia Ali al-Naimi.

This was reported by Reuters referring to Saudi newspaper al-Hayat.

“Forget about it,” – he said.

On Wednesday, he held talks with the head of Russian Ministry of Energy Alexander Novak.

Earlier, Deputy Crown Prince and Defense Minister of Saudi Arabia Mohammed bin Salman said that the Kingdom will join the agreement to freeze oil production only if the authorities of Iran do so too.

In the capital of Qatar, Doha, a meeting will be held on April 17, where possible oil production freeze will be discussed. 12 countries have confirmed their participation: Saudi Arabia, Russia, Kuwait, the United Arab Emirates, Venezuela, Nigeria, Algeria, Indonesia, Ecuador, Bahrain, Oman and Qatar itself.



Image: Jasper Morse (unsed CC BY 2.0)