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Saudis on: No need to specut OPEC output
khelil barrelso reiterated an often-stated opec explanation for the large fluctuations in oil prices -- that it is tied to speculators withouse money flows into oil when the u.s .
saudis: no need to cut opec output key opec member saudi arabia say's opec will keep crude output still, aheady saudi oil minister ali naimi says market well balanced comments appeared to rebut remarks froleum irman calling for a cut var clickexpire = 10/9/2008 ; .
benchmark crude for october delivery rose a modest 11 cents monday to settle at $106.34 a barrel on the new york mercantile exchange, as hourricane ike threatened oil and gas facilities in and around the gulf of mexico .