Rigzone reports that “Saudi Arabia is seen rejecting calls from fellow OPEC members to cut output when the group meets this week as the group’s kingpin argues it cannot deal alone with one of the most severe oil gluts in history.”  

“OPEC is widely expected to stick to its policies – enforced by Saudi Arabia’s oil minister Ali al-Naimi a year ago – of defending market share by pumping record volumes to drive rival, higher-cost producers out of the market.”