Saudi Arabia said oil-producing countries have not yet reached an agreement on cutting output, as major producers met in Abu Dhabi on Sunday.

“There is no consensus yet among oil producers about cutting production,” Saudi Energy Minister Khalid al-Falih said at the meeting of their Joint Ministerial Monitoring Committee.

It was “premature to talk about a specific action”, he told reporters, asked about the possibility of an output cut to support sliding prices.

“We have to study all the factors,” Falih said.
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