Khalid Al-Falih

Nine-month extension of oil output cut deal agreed

OPEC + countries voted in favor of joining the OPEC decision to extend the oil output cut deal for nine months while maintaining the quota of the old agreement. "Thank you very much; I believe that we have now joined the decision …

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OPEC+ deal to be extended until April 2020?

  The most probable and the most discussed period for renewal of OPEC+ oil production capping deal is until April of the next year, a high-ranking source in the alliance said. "Nine months, rather than six, …

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What to expect after July OPEC+ summit?

OPEC+, a group of 24 oil-producing countries, look set to extend oil supply cuts this week at least until the end of 2019 as Iran joined top producers Saudi Arabia, Iraq and Russia in endorsing a policy aimed at propping up the price of crude …

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Al-Falih assesses OPEC+ deal perspectives

Saudi Arabia’s Minister of Energy, Industry and Mineral Resources Khalid Al-Falih believes that the benefit of participation in OPEC+ is obvious. The minister noted that he met with the Russian President …

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Oil price drops back to $60

Oil prices fell today amid a global economic slowdown that is starting to hit oil demand, triggering calls in producer club OPEC for supply cuts to be extended. Brent crude futures, the international benchmark for oil prices, were …

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Riyadh stays within OPEC+ deal

Saudi Energy Minister Khalid al-Falih said that the kingdom will stay within OPEC+ deal and will not exceed its limit. Earlier, U.S. President Donald Trump said he persuaded Saudi Arabia to increase the …

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OPEC+ expresses gratitude to Azerbaijan

The OPEC and non-OPEC countries fulfilled their obligations to reduce oil production, according to the Joint Ministerial Monitoring Committee (JMMC) communiqué, seen by Vestnik Kavkaza. The 13th meeting of the OPEC/non-OPEC …

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Novak confirms participation in OPEC+ meeting in Baku

Representatives of 14 countries, including Russian Energy Minister Alexander Novak, confirmed their participation in the 13th meeting of the Joint OPEC and non-OPEC Ministerial Monitoring Committee in Baku, according to the …

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Saudi's Falih: OPEC+ deal should be extended

Saudi Energy Minister Khalid al-Falih said that the OPEC+ deal maybe extended to curb output until the end of 2019. Falih said that OPEC and its allies increased production significantly last year ahead of a potential …

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