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Opec must co-operate to boost oil prices - Saudi

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Opec countries
Opec countries

Riyadh - Oil producers outside Opec must co-operate to boost falling crude prices as the cartel refuses to take responsibility alone, the Saudi oil minister has said.

"We refuse to take responsibility alone because (Opec) produces 30% of market output and 70% comes from outside," Ali al-Naimi said in remarks carried Monday by the Saudi Press Agency (SPA).

Crude prices slumped by about 60% between June and February, weighed down by a glut of global supplies and concerns about stalling demand.

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