OPEC Ready to Act Fast on Oil Stock Build

The Organization of Petroleum Exporting Countries is ready to act fast to cut crude supplies if oil inventories build too much in the second quarter, Qatar’s Oil Minister Abdullah bin Hamad al-Attiyah said Thursday.

“We don’t want to see a collapse in (oil) prices,” he told Dow Jones Newswires in an interview. “When we feel there’s a surplus, then we have to cut, and we don’t want to wait,” he added.
Schlumberger