By: Mohamed Idris
Riyadh – Mubasher: Saudi Arabia's Minister of Energy, Industry and Mineral Resources, Khalid Al-Falih, said Sunday that global oil market has recently started moving towards a balance.
During the 25th meeting of the Petroleum Cooperation Committee (PCC) in the GCC countries, Al-Falih asserted that OPEC members and other countries have started intensive negotiations to take the necessary actions to restore balance to oil market.
The minister also invited Russia’s Minister of Energy, Alexander Novak, to participate in the meeting as a major oil producer with a big influence in the issues of stabilising oil market.
Al-Falih said that Novak’s visit to the Kingdom is a chance to review the market’s developments and scenarios to restore balance to oil market.
Translated by: Elwy el-Manzalawy
