Saudi Arabia Vows to Keep Pumping as Oil Plan Is Successful

Saudi Arabia pledged to supply as much oil as its customers need and sees no sign their requirements will slow down as OPEC’s strategy to defend market share proves successful.

The world’s biggest oil exporter will only cut output if customers refuse to buy its crude, which is unlikely because Saudi Arabia has the most reliable supply, Oil Minister Ali al-Naimi said in Berlin on Wednesday. Prices will continue to stabilize as recovering demand helps the global market to rebalance, he said.