Saudi energy minister: Oil market to be balanced before next year

ALEXANDER NEMENOV / AFP

Saudi Arabia's Energy Minister says he hopes oil producers will be able to balance the oil market before next year.

Khalid al-Falih made the comments on Saturday on the sidelines of a meeting of G20 energy and environment ministers in Japan.

Earlier this month he said OPEC was nearing an agreement that would extend a pact on cutting oil supplies after June.

However al-Falih said more talks were needed with non-OPEC countries that are part of the deal.

More from Business News

On Virgin Radio today

  • Non Stop Hits

    Midnight - 6:00am

    The UAE's #1 Hit Music Station with no interruptions

  • The Kris Fade Show

    6:00am - 10:00am

    Kris, Priti and Rossi host the UAE's biggest radio show. It's full of fun, laughs and it's Where The Stars Live.

Trending on Virgin Radio