Will continue to work with all main producers to limit volatility – Saudi Cabinet

Reuters reporting the headlines from the Saudi cabinet on oil markets:

Kingdom seeks oil market stability

Welcomes any cooperation and is committed to supply a big part of the oil demand based on a commercial basis

Will invest to keep spare oil capacity to help meet extra demand or deal with supply distribution

Will continue to work with all main producers to limit volatility

Meanwhile, both crude benchmarks remain modestly flat and largely unperturbed by Saudi’s comments.