– We see a similarity between offer and demand, so it is not unthinkable, said the saudi energy minister Khalid al-Falih in his opening speech during the World Energikonferanse in Istanbul on Monday.
In the last week increased the price of american light oil above 50 dollars a barrel for the first time since June. The climb comes after that oljekartellet OPEC decided to cut oil production for the first time in eight years.
Al-Falih warns, however, against too drastic cuts.
OPEC should make sure not to squeeze back too much, for we do not want to shake the market in a process that can be harmful, ” he says.
energy minister admits that Saudi Arabia, in the time of high oil prices, “has become a little too complacent and incurred bilringer around the stomach”, but is now fully committed to implement the country’s new appointed economic reform programme.
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