oil production

oil prices

Opec won’t cut production. Not even if oil barrel hits $20

MADRID | The Corner | “It’s not in the interest of OPEC producers to cut their production, whatever the price is… Whether it goes down to $20, $40, $50,$60, it is irrelevant, ” Saudi Arabia’s oil minister Ali al Naimi said in an interview with Middle East Economic Survey, quoted by Reuters. He sent oil prices tumbling below $60 per barrel. The oil crisis is causing violent and undesirable market volatility.