You are here: Home » Reuters » News
Business Standard

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

Reuters  |  DUBAI 

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 expectations indicate the market will rebalance in the fourth quarter of this year taking into account an increase in shale oil production," he said.Falih said there was ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, June 19 2017. 13:13 IST
RECOMMENDED FOR YOU