Saudi Arabia energy minister: WSJ story on cuts of output is “absurd and utter nonsense”

WSJ report suggested a potential 300K cut.

Saudi Arabia’s energy minister Prince Abdulaziz is on the wires in reaction to an earlier Wall Street Journal article saying that they were mulling over a proposed 300K cut in output, says:
  • Media report on Saudi Arabia considering break from OPEC+ alliance “absurd and utter nonsense”
  • We will continue to act in a collective manner
  • Saudi Arabia is in continuous communication and dialogue with all  OPEC and OPEC+ partners
Crude oil futures are currently trading down $0.94 or -1.73% at $52.93. The low for the day reached $52.55. The high for the day was up at $53.86