Comments on Wednesday from Saudi Arabia Oil Minister Ali al-Naimi played down the prospect of oil producers taking action on crude output at a key meeting on Sunday in Doha, Qatar. When asked about such action, al-Naimi said, “Forget about this topic,” according to a Reuters report citing comments from him published Wednesday in the Saudi-owned al-Hayat newspaper. Traders previously have closely watched for al-Naimi to suggest that an output freeze could happen, and that it might even represent the first step toward a collective cut in oil production.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News