Ali Al-Naimi defends 2014 OPEC ‘pump-at-will’ oil policy Former official says non-OPEC countries need to cut output OPEC can’t cut oil production alone to stabilize the market, according to the former Saudi Arabian energy minister who masterminded the pump-at-will policy the group adopted two years ago. “I don’t think OPEC by itself should cut,” Ali Al-Naimi, who for two decades was arguably the world’s most influential oil official until he retired in May, told a Chatham House event in London. While Al-Naimi stood by the November 2014 decision when Saudi Arabia led OPEC to keep pumping, triggering a price collapse, he said the situation has changed somewhat as other producers, including Russia, are talking to the group about coordinated cuts. “Other producers now are thinking about cooperating,” said Al-Naimi, 81, who is in the U.K. promoting his memoir. “That’s great. If they cooperate and deliver, it’s good.” OPEC, which […]