Saudis Are Discussing Options With Producers to Halt Oil’s Slide
- Kingdom won’t tolerate continued decline in prices: official
- Brent has dropped 11% this month, while WTI is down 10%
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Saudi Arabia has phoned other oil producers to discuss possible policy responses as oil prices fell to a seven-month low, a Saudi official said.
The kingdom won’t tolerate a continued slide in prices and is considering all options, the official said, asking not to be identified discussing private talks. He didn’t say what measures were being discussed.