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Saudis Willing to Act on ‘Critical’ Oil Market, Algeria Says
ALGEIRS, Capital Markets in Africa: Saudi Arabia, the world’s biggest oil exporter, has offered to cut its output to January levels, Algeria’s energy minister said as he prepared to host a meeting of OPEC producers later this week. Prices rebounded Monday after tumbling 3.7 percent on Friday as Saudi Arabia signaled that the Algiers meeting will be consultative and unlikely to reach a firm decision. While Noureddine Boutarfa’s comments don’t change that, they suggest OPEC’s leading member may still be willing…
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