Crude Extends Losses As Saudi Minister Says “Will Not Cut Oil Production” To Support Prices

by Tyler Durden
ZeroHedge.com
02/18/2016

While there was never any expectation of a production “cut” from Saudi Arabia, hope still remained that “discussions of a ‘freeze'” could be extrapolated to an ‘in-the-end’ cut down the line… That is over…

AFP has just reported that…

“Saudi Arabia isn’t ready to cut its production” of oil to support prices, which have been hurt by a supply glut, AFP reports citing interview with Foreign Affairs Minister Adel al-Jubeir.

Oil prices to be “determined by supply and demand and by market forces”

And Crude is extending its losses…

The Rest…HERE

This entry was posted on Thursday, February 18th, 2016 at 12:54 pm and is filed under Economics, Government Evil, Oil, World Politics. You can follow any responses to this entry through the RSS 2.0 feed.