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By Rania El Gamal and Maha El Dahan ABU DHABI (Reuters) - Saudi Arabia said on Sunday it would not cut output to prop up oil markets even if non-OPEC nations did so, in one of the toughest signals yet that the world's top petroleum exporter plans to ride out the market's biggest slump in years. Referring to countries outside of the Organization of the Petroleum Exporting Countries (OPEC), Saudi Oil Minister Ali al-Naimi told reporters: "If they want to cut production they are welcome: We are not going to cut, certainly Saudi Arabia is not going to cut. ...
Oil-rich Arab Gulf countries on Sunday blamed "irresponsible" non-OPEC producers for a plunge in global crude prices, but voiced confidence that markets would rebound. World prices have fallen almost 50 percent since June, mainly due to a supply glut, the weak global economy and a strong US dollar. UAE energy minister Suhail al-Mazrouei, in a clear reference to shale and sand oil output from North America and other emerging energy markets, attributed the price dive to "newcomers". "One of the main causes is irresponsible production by some producers from outside the (OPEC) organisation," he told an energy forum in Abu Dhabi.
The United States is mulling whether or not to place North Korea back onto its list of state sponsors of terrorism President Barack Obama said Sunday following the communist nation's alleged cyber attack on Sony Pictures.