29.08.2016 - Saudi energy minister: Oil market ‘moving in the right direction’
Saudi Arabian Energy Minister Khalid Al-Falih tempered expectations that the world’s major oil producers would look to freeze production next month, telling Reuters last week that the “market is moving in the right direction” already. “We don’t believe any significant intervention in the market is necessary other than to allow the forces of supply and demand to do the work for us,” he said. Al-Falih said there have not yet been any specific discussions of a production freeze by OPEC, even though world supply remains high. His comments suggest the chances of a pact are minimal, as he pointed to a market rebalancing and steady demand...............................................Full Article: Source
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