Opec seeking 'sufficient cut' to balance oil market: S Arabia

Opec seeking 'sufficient cut' to balance oil market: S Arabia

"We're looking for a sufficient cut to balance the market, equally distributed between countries," Khalid al Falih, Saudi Arabia's oil minister told reporters ahead of an Opec meeting in the Austrian capital. Brent oil prices sank under $60 after Saudi Arabia made remarks that were deemed overly cautious by analysts ahead of Opec's latest output decision.