Saturday 24 June 2017
 
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OIL MARKET OVERREACTION

No urgent need for Opec deal adjustment, says Saudi minister

RIYADH, 13 days ago

There is no evidence the global oil producers' pact needs to be adjusted now, said a Reuters report citing the Saudi energy Minister Khalid Al Falih who is on a visit to Kazakhstan.

Al Falih described the recent weakness in crude prices as the market overreacting to statistical glitches, stated the report.

"I am convinced that the overall trend for the market is that of rebalancing," he added.




Tags: Saudi Arabia | Opec | minister | oil deal |

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