Saturday, February 22, 2025
OPEC prepares for its 171st meeting to decide on production cuts

Oil Prices Tumble as Saudi Oil Minister Says ‘No Chance’ of Production Cuts

“There is no sense in wasting our time seeking production cuts” – Ali al-Naimi Both U.S. and international benchmark crude tumbled more than 4% this morning after making gains in the last week. The culprit was the comment from Saudi Arabian Oil Minister Ali al-Naimi that production cuts are not coming from OPEC’s largest producer. Hopes that a surprise deal