Saudi's minister says oil stocks still building, but OPEC to act if needed

May 18, 2019 3:17 PMJEDDAH: Saudi Arabia’s Energy Minister Khalid al-Falih said on Saturday that OPEC will be responsive to the oil market’s needs, but that he was not sure there is an oil shortage with data, particularly from the United States, still showing inventories building.

“We will be flexible. We are going to do the right thing as we always do,” Falih said of any decision at the meeting in June on continuing the reductions. US President Donald Trump has called on OPEC and the group’s de facto leader, Saudi Arabia, and asked them to lower oil prices. Riyadh, however, is reluctant to boost supply quickly and risk a price crash.

“I am not sure there is a supply shortage, but we will look at the analysis. We will definitely be responsive, and the market will be supplied,” Falih said.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Finance minister says Penang airport will soar higher once Kulim airport built | Malay MailEORGE TOWN, May 14 — Amid the ongoing airport debate, Lim Guan Eng again assured Penangites that the proposal to built one in Kulim can only take Penang’s to “greater heights”. The finance minister urged Penangites to have faith in the ability of their own Penang International Airport (PIA)... What?! U think it is similar to KLIA 1 and 2 ka?
Source: malaymail - 🏆 1. / 86 Read more »