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Saudi's Falih says no immediate need to adjust oil pact
June 10, 2017 / 7:06 AM / 6 months ago

Saudi's Falih says no immediate need to adjust oil pact

ASTANA (Reuters) - There is no evidence the global oil producers’ pact needs to be adjusted now, Saudi Arabian Energy Minister Khalid al-Falih said on Saturday, describing the recent weakness in crude prices as the market overreacting to statistical glitches.

FILE PHOTO: Saudi Arabia's Energy Minister Khalid al-Falih, talks to journalists before the beginning of a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, May 25, 2017. REUTERS/Leonhard Foeger

“I am convinced that the overall trend for the market is that of rebalancing,” he told reporters on a visit to Kazakhstan.

Reporting by Olzhas Auyezov; editing by David Clarke

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