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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.