MENU

Published on 19/04/2019 4:20:06 PM | Source: Reuters

Oil market likely to be well balanced in 2019, says Saudi energy adviser

Posted in Top Stories| #Oil and Gas Sector #Commodity

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Now Get InvestmentGuruIndia.com news on WhatsAppClick Here To Know More

PARIS - Ibrahim al-Muhanna, an adviser to the Saudi energy minister, said on Friday he expected the oil market to be "well balanced" this year.

"This year, we have seen the implementation of the OPEC Plus decision. It is possible to extend the cut until the end of the year depending on market conditions," al-Muhanna told an oil summit in Paris.

The OPEC+ group agreed last year to cut production, partly in response to increased U.S. shale output.

(Reporting by Bate Felix; Writing by Richard Lough; Editing by Mark Potter)