- "Why should I cut production?" said Saudi Arabia’s oil minister Ali Al-Naimi in response to questions over whether he thought it would be necessary to reduce output prior to OPEC's next meeting in June.
- While oil prices have fallen more than $10 a barrel since OPEC's Vienna meeting, Naimi showed no greater concern, saying that the market would be left to balance itself without the Kingdom's intervention.
- Crude plunged yesterday as OPEC cut its demand forecast for 2015, but has now rebounded, up 0.4% at $61.19/bbl.
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