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The following is an abridged and edited version of the full MEES interview with Ali Naimi issued on 22 December:
> Will Saudi Arabia not cut production if the Russians do not cut?
> First of all, why did we decide not to reduce production? I will tell you why. Is it reasonable for a highly efficient producer to reduce output, while the inefficient producer continues to produce? That is crooked logic. If I reduce, what happens to my market share? The price will go up and the Russians, the Brazilians, US shale oil producers will take my share.
> So this is a policy to defend market share?
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