Opec doesn’t need to make any reduction

The Organisation of Petroleum Exporting Countries ( Opec) doesn’t need to make any reduction to its actual oil production, Opec’s chief said yesterday, signalling output wouldn’t come down after it cut output last month.

Speaking on the sidelines of a Chatham House conference, Abdullah Salem Al Badri said: “We don’t feel the need to cut if some countries are not in a good shape right now.”