Saudi Arabia is going to do whatever it takes to stabilize the oil market, but it can’t and won’t do it alone without a collective decision from the OPEC and non-OPEC deal participants, Saudi Energy Minister Khalid al-Falih said on Wednesday. “We are going to … do whatever is necessary, but only if we act together as a group of 25,” Reuters quoted al-Falih as telling reporters in Nigeria’s capital Abuja, referring to the 25 Saudi-led OPEC nations and Russia-led non-OPEC producers that have been tweaking oil production to stabilize the market for nearly two years. Saudi Arabia and Russia steered the group in June to start pumping more oil to offset what was expected to be a steep drop-off of Iranian oil supply with the U.S. sanctions. But after the United States granted waivers to eight of Iran’s key oil buyers, oil prices began to slide, dragged down […]