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Saudi Arabia says oil market improving, agrees with Iraq on compliance with cutbacks

October 21, 2017 Middle East Monitor 0

The global oil market is improving and stabilising, Saudi Oil Minister Khalid al-Falih said in Baghdad on Saturday. In a speech at the opening of the Baghdad International Exhibition, Falih praised the cooperation between Iraq and Saudi Arabia, which he said had helped to boost global oil prices. Speaking later to reporters, he said Saudi Arabia and Iraq were in agreement on the need to “fully comply” with cutbacks in crude output agreed by OPEC, Russia and several other producers to push up prices. “The market has improved a lot but has still some way to go,” he said. Falih is the first Saudi official to make a public speech in Baghdad for several decades. Read: Russia calls to extend […]

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