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Saudi minister: no oil sale cuts
OPEC ministers were all but certain to leave output targets unchanged at a meeting late last night after the top exporter Saudi Arabia said there was no need for action.
So far, none of the 12 Opec members has stated any need to cut production as prices are above $71 a barrel and signs of a strengthening world economy have shifted the focus away from high inventory levels and still sluggish fuel demand.
Opec could still ask members to comply more closely to existing output curbs, which would amount to an unofficial supply cut.