Saudi Arabia claims to have the ability to sustain long-term low oil prices, with international oil prices dropping 2.5%.

Five sources familiar with the negotiation situation revealed to Reuters that Saudi Arabian officials have recently briefed allies and industry experts that Saudi Arabia has the ability to sustain low oil prices in the long term. WTI crude oil fell by 2.5% during the day to $58.87 per barrel. Brent crude oil fell by 2.5% during the day to $61.65 per barrel. OPEC is set to meet next week.