Saudi Arabia says it won't adhere to OPEC's production decree

09/11/2008 |

As Wednesday's OPEC meeting ended with cartel members decreeing that they will strictly adhere to production quotas, Saudi Arabia, the oil cartel's leading producer, said privately that it did not feel bound to the plan. The country aims to keep production at a level at which the price of oil drops to less than $100 a barrel.

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