| The Organization of the Petroleum Exporting Countries won't change its crude oil output level when it meets next month, Saudi Arabia's Minister of Petroleum and Mineral Resources Ali Al-Naimi said Monday.
"Supply is highly sufficient. Demand is great. And the market is fairly stable. There's no reason for a change. absolutely no reason," Mr. Al-Naimi said. Asked if OPEC's output cap of 30 million barrels a day is right, the oil minister said: "I think so. I know so." He also said the current global oil price of $100 a barrel is the fair price "for everybody, consumer, producer and oil companies."..............................................Full Article: Source
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