A day after oil prices plummeted again amid global market sell-offs and fears of oversupply, Saudi Energy Minister Khalid al-Falih said that he expects global oil inventories to drop by the end of the first quarter next year. The oil market is vulnerable to political and economic factors and market speculation, al-Falih told reporters in Riyadh on Wednesday. OPEC and its Russia-led non-OPEC partners in the production cut deal are committed to drawing down the global oversupply, the energy minister of OPEC’s largest producer Saudi Arabia said. “We remain focused on fundamentals, I can tell you we will achieve balance between supply and demand in 2019,” al-Falih noted, as quoted by Reuters. The most vital industry information will soon be right at your fingertips Join the world’s largest community dedicated entirely to energy professionals and enthusiasts On Tuesday, oil prices crashed to a year-low , as the market continues […]