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Saudi Arabia Says It's Open to Another OPEC Cuts Extension

  • Saudi minister met with U.A.E., Venezuela, Kazakh counterparts
  • Ministers agree that all options open to re-balance oil market
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Russia Says Extension of OPEC Output Cuts Is Likely

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Saudi Arabian Energy Minister Khalid Al-Falih agreed with his Venezuelan, Kazakh and U.A.E. counterparts to keep all options open in their push to re-balance world oil markets, including the possible extension of output cuts beyond next March. 

Al-Falih agreed in separate talks with the ministers in the Kazakh capital Astana that steps taken by OPEC and other major crude producers such as Kazakhstan have contributed to better market stability, according to three emailed statements from the Saudi energy ministry.