DOHA, Qatar (Bloomberg) -- Saudi Arabia, the world’s biggest oil exporter, is telling the market it won’t cut output to lift crude back to $100/bbl and that prices must fall further before it does so, according to consultant FACTS Global Energy. Swelling supplies from non-OPEC producers drove Brent crude into a bear market on Oct. 8 amid waning demand from China, the world’s second-largest importer. The Organization of Petroleum Exporting Countries meets Nov. 27 to consider changing its production target in the face of the highest U.S. crude output in almost 30 years.
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Saudi Arabia signals it will let oil slide further, FACTS says
![Saudi Arabia signals it will let oil slide further, FACTS says]()
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