Oil's supply-demand balance improving: Al Falih
DUBAI, June 23, 2016
Oil markets are improving as supply and demand are almost balancing, Saudi Arabia's energy minister said in comments aired on Thursday.
"We see that the market has returned into balance. Supply and demand are almost equal," Khalid Al Falih told Saudi-owned Arabiya television.
"The markets have started to improve in response to this balance," he said.
Falih is in the US accompanying Saudi Arabian Deputy Crown Prince Mohammed bin Salman on a visit aimed at repairing frayed relations with Washington and to promote an economic transformation plan to reduce the kingdom's dependence on oil. --Reuters
