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Oil price down cycle 'nearing end': Saudi minister

MickeyW

MickeyW

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Riyadh (AFP) - Saudi Oil Minister Khalid al-Falih said on Sunday that the current cycle of falling crude prices is close to an end as market fundamentals improve.

Oil prices are currently hovering at around $50 per barrel after hitting a 10-year low of less than $30 in January, down from a peak of more than $100 in mid-2014.

"The current down cycle is nearing an end," Falih told a joint press conference with his Russian counterpart Alexander Novak on Sunday after a Gulf ministerial meeting in Riyadh.
https://www.yahoo.com/news/oil-price-down-cycle-nearing-end-saudi-minister-131220258.html
 
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