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Saudi Energy Minister Says Oil Market Is Balancing

stander
stander
in Oil, Gas and Energy News

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Saudi Arabia’s energy minister said on Sunday the oil market was becoming more balanced and prices were stabilizing.


Khalid al-Falih said Saudi Arabia, the world’s biggest oil exporter, would always strive to stabilize the oil market, a statement by the energy ministry said on Sunday.


“In doing so, the Kingdom secures the flow of oil supplies as it retains a spare production capacity,” the minister, attending a climate meeting in Berlin, was quoted as saying in the statement.


His remarks echo earlier comments made on Monday by the Saudi minister in the Saudi city of Dhahran at a meeting with newly appointed OPEC secretary general, Mohammed Barkindo.


https://oilguru.org/2016/07/11/saudi-energy-minister-says-oil-market-is-balancing/


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