For the second day in succession, Oil price rose extending the biggest rally since October 2012. Saudi Arabia said that it is not cutting down production and is confident that crude prices will rebound as the world economy grows. Brent futures rose by 2.6 percent in London. Saudi oil minister blamed countries outside OPEC and […]
OPEC Say No to Cuts in Production to Bolster Falling Crude Prices
Falling oil prices have increased concerns among oil producing nations but the Kuwaiti oil minister Ali al-Omair is putting a brave face. He stated that the Organization of the Petroleum Exporting Countries or OPEC will not cut production or hold an emergency meeting to discuss about falling global oil prices. Omair was speaking to Reuters […]
