Opec meet: Saudis unlikely to cut output, keeping US shale oil impact in mind

Riyadh

OPEC's biggest crude producer Saudi Arabia will have its sights set on the upstart US shale oil business at a crucial cartel meeting to debate possible output cuts on Thursday.

Analysts say the kingdom is content to see shale oil producers - and even some members of the cartel - suffer from low prices and will resist pressure to reduce output and shore up the cost of oil.

A barrel of crude has plunged by about one third in value since June to around US$80 in an increasingly competitive market.

Saudi Oil Minister Ali al-Naimi was silent about his government's intentions on Monday as he arrived in Vienna ahead …