Crude Extends Losses As Saudi Minister Says "Will Not Cut Oil Production" To Support Prices
While there was never any expectation of a production "cut" from Saudi Arabia, hope still remained that "discussions of a 'freeze'" could be extrapolated to an 'in-the-end' cut down the line... That is over...
AFP has just reported that...
#BREAKING AFP EXCLUSIVE: Saudi will not cut oil production: FM
— AFP news agency (@AFP) February 18, 2016