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Saudi Arabia cool to idea of oil states' summit on oil prices

Venezuela has pushed for it; Riyadh is not keen on intervening in the market

UPSET BY 'THE EMPIRE': Venezuelan President Nicolas Maduro has accused 'the empire' - his epithet for the US - of sabotaging his proposal for a summit of oil producers to take measures to defend the market and the price.


TOP oil-exporter Saudi Arabia sees no need to hold a summit of producing countries' heads of state if such discussions would fail to produce concrete action toward defending oil prices, sources familiar with the matter said on Thursday.

The comments followed a meeting of Gulf