Advertisement

ENERGY

Share
From Times Staff and Wire Reports

Saudis Resist Quick Deal on Oil Output Cut: Saudi Arabia fended off efforts by its OPEC partners for a quick deal to slash the cartel’s oil production by more than 1.5 million barrels a day in the coming months. The kingdom, the world’s largest crude exporter, promised to offer its own ideas today. Ministers of the 13-nation Organization of Petroleum Exporting Countries failed in daylong bargaining in Geneva to wrap up an agreement that would be designed to pull enough oil off the markets to move prices closer to the group’s target of $21 a barrel.

Advertisement