| Some Gulf oil producers are unlikely to reduce supplies to try to stem a decline in oil prices unless crude falls below $90 a barrel for a sustained period. Others did not specify an ideal price range but said they would maintain high output and could tolerate a further decline in prices.
Brent crude, trading around $107 Wednesday, has fallen some $15 since the start of August as the economic outlook darkened and following the release of strategic consumer reserves and extra supplies from Gulf OPEC producers in June..............................................Full Article: Source
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