Saudi Arabia vows to continue pumping oil for customers

The world's largest crude oil exporter, Saudi Arabia, vowed to pump as much oil as its customers need on Wednesday.

The comments came from Oil Minister Ali al-Naimi on Wednesday, indicating that the country doesn't plan on cutting supply, unless customers refuse to buy the oil, Bloomberg reports

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The international benchmark of crude oil fell 61 percent from June to January in the last year.

The steep drop in oil prices has put a squeeze on U.S. producers at a time when the nation produced the most oil in three decades.  

On Wednesday, Brent crude fell .7 percent to $60.61 per barrel.