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Saudi's Falih says still anxious about fragility of oil market: CNBC

10:35, Wednesday, 24 January, 2018
Saudi's Falih says still anxious about fragility of oil market: CNBC

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.

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