U.S. shale oil coming to the market is not a concern, Saudi Energy Minister Khalid al-Falih said on Thursday, adding that demand will absorb it.
“Shale coming in and happening again in 2018 doesn’t bother me at all. The market can absorb it,” he said, speaking at an energy forum in Moscow.
Falih said oil demand was healthy around the world, and there was a steady reduction in global oil inventories.
The rebalancing of oil inventories is well under way, he said. The recovery in oil markets has helped other commodities, he added. Read More…
Latest posts by The Times Of India (see all)
- Piped gas to fuel kitchens in 44 lakh Chennai homes soon - September 25, 2018
- India’s oil demand growth to slow down over next decades: Reliance Industries - September 25, 2018
- As crude oil forecasts call for $100 a barrel, India considers cutting back crude imports - September 25, 2018