FILE - In this Nov.12, 2018 file photo, Khalid Al-Falih, Saudi Energy and Oil Minister, speaks at the Abu Dhabi International Exhibition & Conference, in Abu Dhabi, United Arab Emirates. Cautious not to set a price target or range for oil, he explained there are consequences when energy prices dip too low or rise too high. (Kamran Jebreili, File/Associated Press)ABU DHABI, United Arab Emirates — Saudi Arabia’s energy minister said Sunday that major oil producers need to do better to narrow swings in prices that dip below $60 a barrel and rise above $86. Cautious not to set a price target or range, he explained there are consequences when oil prices dip too low or rise too high. Oil producers are under pressure to reduce production following a sharp fall in oil prices in recent months because major producers — including the United States — are pumping oil at high rates.

Source: Washington Post January 13, 2019 10:49 UTC