Pressure on Oil Producers Rises: Persian Gulf...

Pressure on Oil Producers Rises: Persian Gulf Arab producers, accused of flooding a saturated oil market, are under intense pressure to cut output and prevent a price crash, OPEC officials and oil industry sources told Reuters. “They are . . . in the firing line,” said a senior gulf Arab oil official. But the official said OPEC’s main output quota busters--the United Arab Emirates, Kuwait and to a lesser extent Saudi Arabia--opposed any urgent meeting of the group’s 13 oil ministers. “What the gulf states are more likely to do is to quietly turn down their taps a little. . . . And that would be done on a voluntary basis,” said the official, who declined to be named.