Saudi Arabia and Russia, both of whom have boosted their crude output in recent months, were responsible for a $15/b drop in the price of oil and “should cut at least 1 million b/d instantly”, an OPEC delegate told S&P Global Platts. The two countries, the largest producers in the OPEC/non-OPEC coalition, needed to “get back [to] OPEC the $15/b loss that they caused”, the delegate said on condition of anonymity. The comments come as Saudi Arabia and Russia were reportedly discussing a production cut in 2019, Russian news agency Tass reported earlier Wednesday. Saudi officials could not be reached for comment. ICE Brent futures were trading at $73.03/b at 1307 GMT Wednesday, after hitting a four-year high October 3 at $86.29/b. A six-country OPEC/non-OPEC Joint Ministerial Monitoring Committee co-chaired by Saudi Arabia and Russia […]