Saudi energy minister hopes to balance oil market by next year

  • Saturday 15, June 2019 03:39 PM
  • Saudi energy minister hopes to balance oil market by next year
Sharja24 – WAM: Saudi Energy Minister Khalid al-Falih said on Saturday that he hopes oil producers will be able to balance the oil market before next year.
When asked about the current oil market situation, al-Falih said, "We hope that we will balance the market before next year. We are working on it." The minister's remarks were made on the sidelines of a meeting of G20 energy and environment ministers in Karuizawa, Japan.

Al-Falih said earlier this month that the Organisation of the Petroleum Exporting Countries, OPEC, was close to agreeing to extend a pact on cutting oil supplies beyond June, although more talks were still needed with non-OPEC countries that were part of the production deal.