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Saudi Energy Minister Says Oil Market Will Quickly Return To Balance
14 Ocak 2019 Pazartesi 09:18

Saudi Energy Minister Says Oil Market Will Quickly Return To Balance

Saudi Arabia's Energy Minister Khalid al-Falih said on Sunday the oil market is "on the right track" and will "quickly return to balance," but oil producers are...

Saudi Arabia's Energy Minister Khalid al-Falih said on Sunday the oil market is "on the right track" and will "quickly return to balance," but oil producers are willing to do more if needed, Al Arabiya news channel reported.

bi.

The Saudi minister also said US shale oil extraction will not lead to market weakness, "If we find that more needs to be done, we will do so in unison with our OPEC and non-OPEC partners where collaboration is essential too."

The Organization of the Petroleum Exporting Countries (OPEC), and other leading global oil producers led by Russia, agreed in December to cut their combined oil output by 1.2 million barrels per day starting from January to prevent a supply glut and boost sagging prices.

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