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Saudi Arabia happy with oil market, won't let another glut form

Reuters  |  NEW DELHI 

By Alex Lawler and Nidhi VermaNEW DELHI (Reuters) - Saudi Arabia's energy minister said on Wednesday that the world's biggest exporter of oil will not sit by and let another supply glut surface, but also does not want oil prices to rise to "unreasonable levels".Members of the Organization of the Petroleum Exporting Countries (OPEC) are seeking a close balance between supply and demand, Khalid al-Falih said, speaking on the sidelines of the International Energy Forum, a gathering of oil producers and consumers in New Delhi. Falih also told reporters he was happy with the current state of the ...

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First Published: Wed, April 11 2018. 13:34 IST