Saudi Arabian Oil Minister Khalid Al-Falih was reported by Reuters as saying that markets are in need of more oil.
Key Headlines:
Need to release 1 million bpd in supply.
The market needs more oil.
We will have to come to a decision that satisfies all stakeholders.
Consumers are asking for more oil supplies.
Some members have said they can’t increase, discussions still ongoing.
Saudi Arabia is seeking a balanced oil market.
“We’ll see” whether Iran would agree with OPEC+ on output increase.
Yet to see if Iran would accept increase in oil output.
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