Rising oil production by non-members of the Organization of the
Petroleum Exporting Countries made it difficult for the cartel to
cut supplies and control prices at its most recent meeting in
November, Saudi Arabia's oil minister Ali al-Naimi said.
"The share of OPEC, as well as Saudi Arabia, in the global
market has not changed for several years...while the production of
other non-OPEC [countries] is rising constantly," Mr. al-Naimi said
in remarks published in Arabic on the official Saudi Press Agency,
or SPA, Thursday.
"In a situation like this, it is difficult, if not impossible,
for the kingdom or OPEC, to take any action that may result in
lower market share and higher quotas from others, at a time when it
is difficult to control prices," Mr. al-Naimi said.
Write to Summer Said at summer.said@wsj.com
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