Saudi Arabia’s foreign minister on Thursday mentioned the united states is “not ready” to chop oil production, Agence France-Presse stated. The remarks come after the arena’s prime oil producer reached a tentative settlement with Russia previous this week to freeze production at present levels if different producers went alongside. Iran on Wednesday welcomed the percent however did not point out it could comply. “If different producers wish to restrict or conform to a freeze when it comes to further production that can have an impact on the market but Saudi Arabia just isn’t ready to cut production, Finance Minister Adel al-Jubeir said. Brent crude for April delivery on London’s ICE trade was down 25 cents, or 0.7%, at $ 34.25 a barrel, whereas March West Texas Intermediate crude CLH6, +1.11% used to be up thirteen cents, or zero.four%, at $ 30.seventy nine a barrel.
read the whole story: Oil upward thrust dented after Saudi comments, upward thrust in inventories
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