Saudi Arabia Energy Minister Khalid al-Falih says inventories of oil have depleted by still above normal levels. – EPA pic, April 8, 2019.
SAUDI Energy Minister Khalid al-Falih today said the oil market was “moving towards balance”, and that producers may not need to make additional output cuts. As oil prices hit a five-month high at more than US$70 a barrel, Falih told a conference in Riyadh that non-Opec member Russia and other countries have met their production cut obligations.
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