OPEC and its non-OPEC partners need to reconsider if there is a need for a meeti...
FILE PHOTO: Saudi Arabia's Energy Minister Khalid al-Falih speaks during the Saudi-India Forum in New Delhi, India, February 20, 2018. REUTERS/Anushree Fadnavis/File Photo
“We are not under pressure except by the market,” Khalid al-Falih told reporters ahead of a meeting of the Joint Ministerial Monitoring Committee in Baku, the capital of Azerbaijan. The JMMC includes major oil producers Saudi Arabia and Russia and monitors the oil market and conformity levels with supply cuts.
Asked whether he was updated on whether the United States administration would extend the waivers it granted to buyers of Iranian crude, which are due to end in May, Falih said: “Until we see it hurting consumers, until we see the impact on inventory, we are not going to change course.”Saudi energy minister confident in full compliance with OPEC supply cuts within weeks“The consensus we heard ... is that April will be premature to make any production decision for the second half,” Falih said.
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