EnergyWatch

Saudi Arabia says oil curbs could extend beyond end of 2017

OPEC's deal to cut the output of crude oil will most likely be extended into the second half of 2017 and possibly beyond, says Saudi Arabia's oil minister.

Photo: Nabil al-Jurani/AP/Polfoto/Arkiv

Saudi Arabia's oil minister said he is confident that an agreement by producers to curb crude output and shrink a market glut will be extended into the second half of the year and possibly beyond.

While U.S. shale output growth and the shutdown of refineries for maintenance have slowed the impact of cuts by OPEC and its partners, producers are determined to reach their goal of reducing bloated stockpiles, Khalid Al-Falih said at the Asia Oil and Gas Conference in Kuala Lumpur on Monday. He said he’s confident the global oil market will soon rebalance and return to a "healthy state."

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

GE implements 3D printing for making component molds

Developing the world's largest 3D printer will enable the OEM to make molds for nacelle components of up to 9.5 meters in diameter and weighing more than 60 tonnes by means of additive manufacturing. Initial testing is set to begin in early 2022.

Further reading

Related articles

Trial banner

Latest News

See all jobs