Saudis can’t keep up with their own oil demand

Published April 18, 2016 5:13pm ET



Saudi Arabia is looking inward to cut its own domestic oil and gas consumption, after failing over the weekend to broker a deal among top producers to curb drilling.

The eve before top producers met in Doha, Qatar, to discuss freezing production to address an ongoing oil-supply glut, Saudi Arabia announced it reached a crisis point in terms of its own domestic consumption of oil and gas and needs to cut back.

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