Oil Producers Stand Ready to Do More to Rebalance

July 24, 2017 Share Print 0

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

Senior Market Analyst - UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.