(Reuters) - - Saudi Arabia’s energy minister, Khalid al-Falih, tells CNBC in Davos he’s not convinced that the oil market has returned to balance, despite rising prices.
- “While I‘m still anxious about the fragility of the market ... by and large we think we’re on our way, but we’re not there yet,” he said.
- Oil prices have rallied to the highest since 2014 this year, trading above $70 a barrel, supported by an OPEC-led supply cut.
- There’s an acceptance that the OPEC-led deal should extend beyond 2018, Falih said.
Reporting by Alex Lawler; Editing by Adrian Croft