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Saudi Arabia sees output freeze as â€˜positiveâ€™

26 August 2016 09:14 (UTC +04:00)

Baku – APA-Economics. Saudi Arabia’s energy minister said an oil-output freeze would be "positive" if it happens, while ruling out a cut in production, Khalid Al-Falih said.

He said will attend the OPEC Algeria meeting next month to discuss market conditions, including the possibility of keeping crude production at current levels. Saudi Arabia rejected an earlier attempt by some in the Organization of Petroleum Exporting Countries to freeze output at an April meeting in Doha.

"We will be willing to listen to our colleagues, what they have to offer in that area," Khalid Al-Falih, who became Saudi energy minister in May, said in an interview Thursday in Los Angeles. "I don’t believe that an intervention of significance is required. I certainly don’t advocate a cut."