Saudi cabinet says affirms readiness to use spare oil capacity if needed

Saudi cabinet statement

• Affirms the readiness of the Kingdom to use its spare production capacity if needed

• Would use spare production to deal with any future variations in demand and supply in coordination with other oil producing countries

WTI crude is up 89-cents today and these headlines certainly aren't slowing it down. The Saudis have basically denied Trump's request, despite what they might have said on the call.