While you were sleeping: Oil sinks equities

Tue, 23 Feb 2016

By Margreet Dietz Feb. 24 (BusinessDesk) - Stocks on both sides of the Atlantic dropped with the price of oil after Saudi Arabia’s oil minister said the country won’t cut output. Earlier this month Saudi Arabia and Russia agreed to freeze oil production at January levels, if other producers will follow suit. Oil prices fell more than 5 percent. “We are not banking on cuts because” there is “less than trust” that “countries are going to deliver even if they promise,” Saudi Oil Minister Ali Al-Naimi said in Houston, Bloomberg reported....

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