ABU DHABI, Dec 21 (Reuters) - Saudi Arabian Oil Minister Ali al-Naimi said on Sunday the kingdom would not reduce production to prop up petroleum markets even if non-OPEC nations cut output.
“If they want to cut production they are welcome, we are not going to cut, certainly Saudi Arabia is not going to cut,” he said. He added he was “100 percent not pleased” with oil prices. They would improve, he said, but it was unclear when.
Reporting by Maha El Dahan and Rania El Gamal, Writing by William Maclean