Saudi Arabia is “not prepared” to cut oil production, Foreign Minister Adel Al-Jubeir said on Thursday, after the Kingdom agreed with Russia to freeze output if major rivals follow.
“If other producers want to limit or agree to a freeze in terms of additional production that may have an impact on the market but Saudi Arabia is not prepared to cut production,“Al-Jubeir told AFP.
“The oil issue will be determined by supply and demand and by market forces.Saudi Arabia will protect its market share and we have said so,” he said.
Source: Arab News