Saudi Arabia Won't Cut Crude Output, Reaffirms Freeze Accord

  • Kingdom doesn't trust other producers to cooperate with cuts
  • Other producers may join agreement to freeze production

Oil's Slide: Do Prices Have More Room to Fall?

Saudi Arabia said it won’t cut oil production because it doesn’t trust other countries to join in, insisting instead that high-cost producers ought to bear the burden of reducing the current surplus.

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