“The oil market is at the end of a significant downturn,” said the country's energy minister, Khalid Al-Falih. “I look forward to further improvement in market conditions,” he added.
Referring to the prospects of the OPEC agreement on limiting the exit, he noted that non-OPEC countries are showing readiness to join the efforts of the cartel, and not only freeze, but reduce the volume of oil production.
In September, OPEC producers agreed during an informal meeting in Algeria to reduce oil production to 32.5 million barrels per day from the current production of 33.24 million barrels per day. How much each country will produce will be decided at the next formal OPEC meeting in November.
Saudi Arabia expresses optimism about oil
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Azovpromstal® 19 October 2016 г. 13:53 |
