Saudis win case for no OPEC output cut
(Reuters) - Gulf oil producers led by Saudi Arabia on Thursday won the case for keeping OPEC output unchanged, overriding calls from poorer members of the exporters' group for action to halt a slide in crude prices.
Benchmark Brent crude oil fell $3 to its lowest since September 2010, at under $75 a barrel, on expectations that huge global oversupply will build up in coming months. OPEC also decided to meet next on June 5, 2015.