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International News

Nov 12, 2018
2:29PM

Saudi Energy Minister Khalid al-Falih asks to cut global oil output

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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. 

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