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Saudi’s Naimi sees oil market “stabilising itself”

OPEC produces 30 million bpd, or a third of global oil

By Alex Lawler and David Sheppard

VIENNA, Nov 26 (Reuters) – OPEC leader Saudi Arabia signalled on Wednesday it was unlikely to push for a major change in oil output at the producer group’s meeting this week, a day after Russia refused to cooperate in any production cut and threatened to unleash an oil price war.

Saudi Oil Minister Ali al-Naimi said he expected the oil market “to stabilise itself eventually” but did not comment on four-country talks with Russia held on Tuesday.

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