Economics

Saudis Block OPEC Output Cut, Oil Price Sinks Further



VIENNA (Reuters) – Saudi Arabia set the stage for more blood-letting on oil markets after blocking on Thursday calls from poorer members of the OPEC oil exporter group for output cuts to arrest a slide in crude prices. Benchmark Brent oil fell more than $4 to $73.50 a barrel on fears that the global oversupply will…

Saudis Block OPEC Output Cut, Oil Price Sinks Further