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Corrected: Oil market fundamentals heading in the right direction-Saudi's Falih

Reuters  |  DUBAI 

(Corrects OPEC and non-OPEC output cut to 1.8 million barrels from 1.2 million bpd in fifth paragraph, fixes syntax in Falih quotes in third and fourth paragraphs)DUBAI (Reuters) - Saudi Energy Minister Khalid al-Falih said the oil market is heading in the right direction, but still needs time to rebalance, the London-based newspaper Asharq al-Awsat reported on Monday."In my opinion, market fundamentals are going in the right direction, but in light of the large surplus in stockpiles over the past years, the cut needs time to take effect," he told the newspaper in an interview."Current ...

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First Published: Mon, June 19 2017. 13:12 IST