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Saudi Arabia throws down challenge on oil production cuts

2015-12-03 15:54:00| Climate Ark Climate Change & Global Warming Newsfeed

Financial Times: Saudi Arabia has thrown down a challenge to big rival oil producers ahead of this week's Opec meeting, saying it would back output cuts as long as they were supported by countries both inside and outside the cartel. The kingdom, the Organisation of Petroleum Exporting Countries' (OPEC's) de facto leader, has set a high bar for a deal that is unlikely to be met by the time of Friday's meeting in Vienna, but it leaves open the possibility of an agreement in 2016. The move indicates a further...

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