Saudi Arabia announced Thursday that it is “not prepared” to trim oil production even though it agreed with Russia on Tuesday that major oil-producing countries should freeze their output at last month’s levels. In early Asian trade on Friday, U.S. oil futures dropped as record crude stocks renewed fresh concerns over global oversupply, though the benchmark witnessed a 14% rise this week.
Iran endorses oil production cut plan without committing
In a first sign of Organization of the Petroleum Exporting Countries's (OPEC) and non-cartel producers' scramble to find...
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