Industry needs oil price above $50/b: Falih

摘要

Dubai-Oil markets are moving towards balance but uncertainty remains about prices, Saudi Arabia’s oil minister said during a recent visit to Germany, adding that an optimal price would be somewhere between $50/b and $100/b. In an interview with German financial daily Handelsblatt published Tuesday, Khalid al-Falih also said there were still hundreds of million of barrels of surplus oil on the market and it would take time to reduce the inventory. Even so, oil prices were moving “in the right direction,” he said.