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Al-Falih Expects Improvement of Oil Markets Gradually
Saudi Press Agency Published in Saudi Press Agency on 19 - 10 - 2016

Minister of Energy, Industry and Mineral Resources Eng. Khaled bin Abdulaziz Al-Falih delivered a speech at 37th Oil and Money Conference in London in presence of more than 450 executive prominent figures in the sector of energy from 40 countries.
Addressing the conference, Eng. Al-Falih stressed that the fundamentals of the oil market are improving and the market trends for balancing.
He confirmed that supply and demand factors impact to the shift of prices.
Regarding supplies, Eng. Al-Falih stressed that accelerating increases of production from non-OPEC countries have fallen due to a large decline in investments related to exploration and production sectors.
About energy consumption, the ministers pointed out that demand for oil is witnessing a reasonable increase despite the slowdown in global economic growth.
He also highlighted the Kingdom Vision 2030.

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