International Development News
Development News Edition
Give Feedback

Saudi energy minister says market demands more oil in H2

Minister Khalid al-Falih said on Wednesday that the market demands more oil in the second half of this year and that OPEC was converging on a good decision on production policy this week.


Reuters
Updated: 20-06-2018 21:28 IST
Saudi energy minister says market demands more oil in H2

Oil ministers from the Organization of the Petroleum Exporting Countries meet on Friday in Vienna. (Image Credit: Twitter)

Saudi Energy Minister Khalid al-Falih said on Wednesday that the market demands more oil in the second half of this year and that OPEC was converging on a good decision on production policy this week.

"I think any decision that we make will be based on fundamentals ... we will be looking at supply and demand, inventory," Falih told reporters.

Oil ministers from the Organization of the Petroleum Exporting Countries meet on Friday in Vienna, followed by talks with non-OPEC oil producers on Saturday.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

COUNTRY : Saudi Arabia