ABU DHABI: Saudi Arabia said on Sunday it would not cut output to prop up oil markets even if non-Opec nations did so, in one of the toughest signals yet that the world's top petroleum exporter plans to ride out the market's biggest slump in years.
Referring to countries outside of the Organization of the Petroleum Exporting Countries (Opec), Saudi oil minister Ali al-Naimi told reporters: "If they want to cut production they are welcome: We are not going to cut, certainly Saudi Arabia is not going to cut."
He added he was "100 per cent not pleased" with prices but they would improve, although it was unclear when.
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