| OPEC's biggest oil producer Saudi Arabia now believes oil prices could stabilise at around $US60 a barrel, a level both it and other Gulf producers believe they could withstand, according to people familiar with the situation.
The shift in Saudi thinking suggests the de facto leader of the Organization of the Petroleum Exporting Countries won't push for supply cuts in the near-term, even if oil prices fall further. Brent crude was trading at just over $US70 a barrel on Wednesday...............................................Full Article: Source
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