BUSINESS Saudi energy minister says market demands more oil in second half

BUSINESS

Saudi energy minister says market demands more oil in second half

Reuters

06:23, June 21, 2018

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Saudi Energy Minister Khalid al-Falih attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia May 25, 2018. (Photo: Reuters )

Saudi Energy Minister Khalid al-Falih said on Wednesday that the market demands more oil in the second half of this year and that OPEC was converging on a good decision on production policy this week.

“I think any decision that we make will be based on fundamentals ... we will be looking at supply and demand, inventory,” Falih told reporters.

Oil ministers from the Organization of the Petroleum Exporting Countries meet on Friday in Vienna, followed by talks with non-OPEC oil producers on Saturday.

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