May 22, 2017 / 4:55 PM / 2 months ago

Saudi energy minister says OPEC oil output cut helping balance market

1 Min Read

Saudi Energy Minister Khalid al-Falih arrives to attend the Saudi-US CEO Forum 2017, ahead of the arrival of the U.S. President Donald Trump, in Riyadh, Saudi Arabia May 20, 2017.Hamad I Mohammed

BAGHDAD (Reuters) - Saudi Energy Minister Khalid al-Falih said on Monday that an OPEC-led oil output cut had helped balance the market, aiding a recovery in the industry but not a complete one.

The minister was speaking in Baghdad before heading to Vienna where the Organization of the Petroleum Exporting Countries will meet this week to decide whether to extend output cuts that are due to end in June.

Reporting by Ahmed Rasheed and Isabel Coles; Editing by Edmund Blair and David Evans

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