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OPEC Split on Saudi Promise to Boost Oil Output

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OPEC Split on Saudi Promise to Boost Oil Output

Business

OPEC Split on Saudi Promise to Boost Oil Output

OPEC Split on Saudi Promise to Boost Oil Output

  • Download
  • <iframe src="https://www.npr.org/player/embed/1907665/1907666" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

Global oil prices fall after Saudi Arabia promises to increase production. U.S. Energy Secretary Spencer Abraham says the Saudis are ready to pump as many as 2 million extra barrels a day to stabilize the oil market. The Saudi move comes despite strong opposition from other OPEC members. Hear NPR's Steve Inskeep and Youssef Ibrahim, managing director of the Dubai-based Strategic Energy Investment Group.