WEB DESK
Saudi Arabia’s energy minister Khalid al-Falih has asked Oil producing countries to cut output by one million barrels per day to re-balance the market,following a drop in crude prices.
Addressing an energy conference in Abu Dhabi, Mr Falih said that there is a need to reduce the output by one million bpd to balance the market.
Falih said Saudi Arabia, the world’s largest oil supplier, will cut its production by 500,000 bpd as of next month to help stabilise the market.