The Financial Times reports comments from Khalid al-Falih, chairman of the state-owned Saudi Arabian Oil Company (Saudi Aramco)
- Says no discussions to cut oil production
- Says the market will balance in the new year ... demand will start to deplete inventories & storage on oil tankers ... "Hopefully, however, there will be enough investment to meet the needs beyond 2017"
The Financial Times (gated, but can be read with a free registration) article is here for more: Saudi Arabia will not stop pumping to boost oil prices
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Not unexpected comments for the oil market
OPEC meet on December 4
