Saudi Crown Prince Backs Extending OPEC Cuts Into 2018
- Prince Mohammed bin Salman says ‘of course’ supports roll-over
- Heir to throne says Saudi Aramco IPO is ‘on track’ for 2018
Saudi Crown Prince Mohammed bin Salman.
Photographer: Fayez Nureldine/AFP via Getty ImagesThis article is for subscribers only.
Saudi Arabian Crown Prince Mohammed bin Salman backed the extension of OPEC production cuts beyond March 2018, making it all but certain the cartel and its allies will roll over the curbs at a meeting next month.
The prince, who’s become the kingdom’s dominant political force, said in an interview with Bloomberg News that "of course" he wanted to extend the cuts into 2018. "We need to continue stabilizing the market," he said.