Further comments from Saudi Arabia’s Oil Minister Al-Falih, via Reuters, are found below.
Oil output increase of 1 million bpd is a good target to work with.
Saudi Arabia has a couple million bpd of available spare capacity.
Oil market fundamentals call for a return of about 1.8 million bpd.
Short-term oil demand growth is big.
Won’t see a significant drop in demand in the next 18 months.
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