MW: OIl futures down even as Saudis cut production
By William Spain
CHICAGO (MarketWatch) -- Crude-oil futures fell Monday, even though Saudi Arabia has apparently cut back production. Light, sweet crude for May delivery CLK11 -1.30% slipped $1.51 to $108.15 a barrel in trading on the New York Mercantile Exchange. On Sunday, Saudi Arabia's oil minister said the country, the world's largest oil producer, had trimmed back its output by about 800,000 barrels a day last month due to oversupply.
