Saudi Arabian Oil Minister Ali Naimi sat down with MEES on 21 December in Abu Dhabi and gave his fullest explanation yet of Saudi thinking in pushing for an OPEC rollover on 27 November. The following is the full text of the interview.

Will Saudi Arabia Not Cut Production If The Russians Do Not Cut?First of all, why did we decide not to reduce production? I will tell you why. Is it reasonable for a highly efficient producer to reduce output, while the producer of poor efficiency continues...