Al Falih: Global oil market well supplied

The global oil market is well supplied and Saudi Arabia has successfully met additional demand, Saudi Energy Minister Khalid Al Falih said yesterday. He was speaking to reporters in Moscow, where he is due to attend an energy conference with Russian President Vladimir Putin and other influential energy officials.

Al Falih said Saudi Arabia had raised its oil output to 10.7 million barrels per day (bpd) in October so far to meet rising demand for oil.

“We see the market is being well supplied,” Al Falih said before the plenary session.