Saudi oil minister rules out production cuts
Saudi Arabia’s oil minister said that his country has no plans to cut production to boost oil prices.
The announcement drove down crude prices by 4 percent on Tuesday. Ali al-Naimi, Saudi Arabia’s powerful petroleum minister, also said that he had no worries over demand for oil and welcomed more supply to the market, which left investors jittery.
In other business news, a new Lego set features a stay-at-home dad and working mom. The set is part of the company’s “Lego City” lineup. The working mom wears professional attire while the stay-at-home dad sports a beard and comes complete with a baby in a stroller.
Lego said the set is an effort to mirror the world we live in today.