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2017-06-01 19:20:00

MARGINAL OIL: NOT ENOUGH

MARGINAL OIL: NOT ENOUGH

PLATTS - Saudi energy minister Khalid al-Falih played down the threat of rising US shale production in Moscow on Wednesday, especially in light of the deepening strategic relationship between Saudi Arabia and Russia and the extension of the OPEC and non-OPEC crude production cut deal agreed in Vienna last week.

Falih, who was meeting with Russian energy minister Alexander Novak and OPEC Secretary General Mohammed Barkindo, outlined four drivers at play in the market: robust oil demand growth, the natural decline in legacy oil fields, investment cuts…

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Tags: SAUDI, RUSSIA, OPEC, OIL, PRODUCTION, PRICE
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