Khalid Al-Falih: still Anxious about Fragility of Oil Market

Saudi Arabia’s energy minister. Khalid al-Falih. told CNBC in Davos he’s not convinced that the oil market has returned to balance. despite rising prices.

 “While I‘m still anxious about the fragility of the market … by and large we think we’re on our way. but we’re not there yet.“ he said.

 Oil prices have rallied to the highest since 2014 this year. trading above $70 a barrel. supported by an OPEC-led supply cut.

There’s an acceptance that the OPEC-led deal should extend beyond 2018. Falih said.

 

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