Saudi Arabia Says ‘Why Should I Cut Production?’ as Crude Falls
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Saudi Arabia’s oil minister indicated the nation isn’t planning to cut production even as crude fell to its lowest since 2009.
“Why should I cut production?” asked the minister, Ali Al-Naimi, who spoke to reporters as he attended United Nations global warming talks in Lima, Peru. “You know what a market does for any commodity. It goes up and down and up and down.”