Oil: clash between producers, Saudi Arabia “OPEC will cut no ‘i … – AGI – Agenzia Journalistic Italy

Oil: clash between producers, Saudi Arabia "OPEC will cut no 'i … – AGI – Agenzia Journalistic Italy

Foreign

19:32 December 21, 2014

(AGI) – Abu Dhabi, December 21 – The powerful Saudi oil minister, Ali al-Naimi, confirmed the firm position of Riad to maintain the current crude production, warning that continue ‘to do so even if the non-OPEC countries decide to reduce it: “If they want to cut are welcome but we do not we will reduce, certainly Saudi Arabia he will not ‘, “he said adding that” 100 percent dissatisfied “the cost of oil. Naimi reiterated his belief that oil will be back ‘to grow even if not’ clear when. Meanwhile, the Kuwaiti oil minister, Ali al-Omair, reiterated that OPEC does not need to cut production of crude oil and that there will be ‘no need for any special summit of the cartel of 12 producing countries, and then “up in June, “there will be no news’.

“I do not think we need to cut. We are giving an opportunity ‘to other (non-OPEC oil producers ed)” to do it if they want, said when asked whether countries like Russia and Mexico were to decide to reduce their extractions. “OPEC will cut no ‘. Nothing will happen’ until June and there will be ‘no emergency meeting before then,” he said.

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