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Saudis willing to act on 'critical' oil market: Algeria

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Mr Boutarfa says that the oil market is in a much more critical state than when Opec members last met three months ago.

London

SAUDI Arabia, the world's biggest oil exporter, has offered to cut its output to January levels, Algeria's energy minister said as he prepared to host a meeting of Organization of the Petroleum Exporting Countries (Opec) producers later this week.

Prices rebounded on Monday