Saudi's Falih says oil market at end of downturn

Saudi's Falih says oil market at end of downturn

Saudi Arabia's energy minister gave an upbeat message to an audience of industry executives on Wednesday, saying the oil market was at the end of a downturn and producer action to limit supply would help it improve further.
Khalid al-Falih also told the annual Oil and Money conference in London that non-OPEC countries were showing a willingness to freeze and even cut supplies alongside the Organization of the Petroleum Exporting Countries.
"Market forces are clearly working after a testing period of sub-$30 prices. The fundamentals are improving and the market is clearly balancing the... read more

19 October 2016 in Business, Views: 36
Source: Reuters

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