Vienna---OPEC's strategy of not cutting production in order to maintain market share is working, Saudi Arabia's oil minister said Monday as he arrived for a meeting of the cartel to decide on output levels.
Asked if this strategy pushed by OPEC kingpin Saudi Arabia was working, Ali al-Naimi told reporters in Vienna: "The answer is yes... Demand is picking up. Supply is slowing. This is a fact. The market is stabilising."
AFP
