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Oil Producers Stand Ready to Do More to Rebalance

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Saudi Arabia’s Energy Minister Khalid al-Falih said on Monday rising oil demand growth would more than offset increasing U.S. oil output in 2018 and lead to “healthier” conditions in the oil markets.

Falih also said OPEC and its non-OPEC partners such as Russia stood ready to take additional measures to help the market rebalance and erase one of the worst gluts in history.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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