Saudi’s EnergyMin Al-Falih: 2017 will see a recovery of oil markets

On Tuesday, Bloomberg reported comments from the Saudi Arabian energy minster Al-Falih, delivered in an interview with Al Arabiya television.

Key Quotes:

“I’m very optimistic that next year will see economic recovery and a recovery of oil markets” 

“Markets worldwide are leaving a contraction period and a period of low oil prices and reduced investment in the sector”

“All producers were convinced, inside and outside of OPEC, of the importance of accelerating balance” in the oil market, and “this conviction cements my confidence that all countries will highly adhere” to their obligations

“There is a high degree of transparency now in terms of production levels, export and tankers movements, there are also many parties that monitor oil”