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Saudi Arabia's oil minister says OPEC may need to consider continuation of cuts

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Saudi Arabia's oil minister has suggested that oil production cuts agreed to by OPEC and non-OPEC members may need to continue. Khalid al-Falih made his comments in Abu Dhabi. His opinion holds weight as Saudi Arabia remains an oil powerhouse. OPEC agreed in late November to cut its production by 1.2 million barrels a day for six months, the first reduction agreed to by the cartel since 2008. Crude oil sold for over 100 US dollars a barrel in the summer of 2014, before bottoming out below 30 US dollars a barrel in January 2016. Its now trading above 50 US dollars a barrelSubscribe to us on YouTube: http://ow.ly/Zvqj30aIsgYFollow us on:Facebook: https://www.facebook.com/cgtnafrica/Twitter: https://twitter.com/cgtnafrica

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Africa News CGTN Africa Saudi Arabia oil minister oil production cuts OPEC Abu Dhabi
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