New York Mercantile Exchange and Organization of Petroleum Exporting Countries

April West Texas Intermediate crude: April Brent crude LCOJ6, -2.31% on London ICE Futures exchange fell $1.42, or 4.1%, to $33.27 a barrel, according to Market Watch. At the IHS CERAWeek conference in Houston Tuesday, al-Naimi said there is no sense wasting our time seeking production cuts. April West Texas Intermediate crude CLJ6, -3.29% fell $1.52, or 4.6%, to settle at $31.87 a barrel on the New York Mercantile Exchange. He also said he has no concerns about demand, so he welcomes additional supplies, including shale oil. Saudi Arabia has the biggest pull in the Organization of the Petroleum Exporting Countries as the group largest crude-oil producer and exporter. Read:Why comments by Saudi Arabia al-Naimi slammed oil futures There was nothing new from the Saudi oil minister, whose rhetoric fell in line with everything we have heard from him for well over a year: that Saudi will not be cutting production, said Matt Smith, director of commodity research at Clipper Data. (news.financializer.com). As reported in the news.