Saudi’s Falih says no immediate need to adjust oil pact

10 Jun 2017   OPEC, Saudi Arabia

There is no evidence the global oil producers’ pact needs to be adjusted now, Saudi Arabian Energy Minister Khalid al-Falih said on Saturday, describing the recent weakness in crude prices as the market overreacting to statistical glitches. “I am convinced that the overall trend for the market is that of rebalancing,” he told reporters on a visit to Kazakhstan. (Reporting by Olzhas Auyezov; editing by David Clarke)

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