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Saudi Arabia says prefers tighter oil market to early exit from cuts

Reuters  |  RIYADH 

By Rania El GamalRIYADH (Reuters) - OPEC would do better to leave the oil market slightly short of supplies rather than ending too early a deal on cutting output, Saudi Energy Minister Khalid al-Falih said on Wednesday.Oil prices have slid nearly 15 percent in the past three weeks, together with a broader decline in the stock market, due to fears about global inflation and rising U.S. oil production.The decline comes at a bad time for Saudi Arabia, which needs high and stable oil prices if it is to succeed in turning the planned share listing of oil giant Saudi Aramco this year into the ...

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First Published: Wed, February 14 2018. 21:29 IST
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