OPEC should maintain output cap in June: Saudi oil minister

May 12, 2014 - 7:46:49 am

SEOUL: Saudi Oil Minister Ali al-Naimi said on Monday that the Organization of the Petroleum Exporting Countries (OPEC) should maintain its 30 million barrels-per-day output cap at its June meeting.

"Supply is highly sufficient, demand is great and the  market is fairly stable," the minister told reporters on the sidelines of a conference.

He said that $100 a barrel was a fair crude price for everybody. (Reuters)