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Saudi's Falih says no immediate need to adjust oil pact
June 10, 2017 / 7:04 AM / 3 months ago

Saudi's Falih says no immediate need to adjust oil pact

FILE PHOTO: Saudi Arabia's Energy Minister Khalid al-Falih, talks to journalists before the beginning of a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, May 25, 2017. REUTERS/Leonhard Foeger

ASTANA (Reuters) - There is no evidence the global oil producers’ pact needs to be adjusted now, Saudi Arabian Energy Minister Khalid al-Falih said on Saturday, describing the recent weakness in crude prices as the market overreacting to statistical glitches.

“I am convinced that the overall trend for the market is that of rebalancing,” he told reporters on a visit to Kazakhstan.

Reporting by Olzhas Auyezov; editing by David Clarke

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