Oil producers committed to cutting inventories: Al-Falih

31/05/2017 Argaam

OPEC and non-member oil producers are committed to cutting global oil inventories to a five-year average, Reuters reported on Wednesday, citing Saudi Arabia’s energy minister, Khalid Al-Falih, after a meeting with his Russian counterpart, Alexander Novak.

 

Al-Falih added that he expects this target to be achieved in the very near future.

 

"Our joint declaration with Russia concluded that while the rebalancing goal is on its way to being achieved, more needed to be done to draw inventories towards the five-year average," Al-Falih said.

 

Meanwhile, the Saudi minister reiterated that the Kingdom will cooperate with Russia to help stabilize the oil market.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read