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Saudi Arabia could cut oil production
- Saudi Arabia: Monday, January 12 - 2009 at 09:04
Saudi Arabia plans to cut oil output by up to 300,000 barrels per day below its agreed Opec target. The most influential member of Opec has lowered supply this month to eight million bpd and according to a senior oil executive could cut back to 7.7 million in February. Saudi Arabia wants to prevent a huge stock build-up and a further decline in the oil price.
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StaffMonday, January 12 - 2009 at 09:04 UAE local time (GMT+4)
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