Amadeusz Juskowiak

Saudi arabia reiterates commitment to opec accord

Saudi Arabian Oil Minister Hisham Nazer reiterated the kingdoms commitment to last Decembers OPEC accord to boost world oil prices and stabilize the market the official Saudi Press Agency SPA said

Asked by the agency about the recent fall in free market oil prices Nazer said Saudi Arabia is fully adhering by the

accord and it will never sell its oil at prices below the pronounced prices under any circumstance

Saudi Arabia was a main architect of December pact under which OPEC agreed to cut its total oil output ceiling by 725 pct and return to fixed prices of around 18 dollars a barrel