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Saudi Arabia calls for oil production cuts as OPEC readies to meet.
(From Agence France Presse)
Saudi Arabia and several other OPEC members are looking to cut oil output when the 11-nation cartel meets to find a way to deal with overproduction on the world market.
Saudi Arabian Oil Minister Ali al-Nuaimi said Wednesday upon arriving in Vienna for an extraordinary meeting that the 11-nation Organization of Petroleum Exporting Countries should cut output by 1.5 to two million barrels per day (bpd).
Qatar Energy and Industry Minister Abdullah bin Hamad Al Attiyah stressed that OPEC must act now against overproduction.
"We overproduce without a doubt," Al Attiyah said, adding that "not to do something against …
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