Saudi Energy Minister: 2019 is unpredictable for oil market

Baku. 23 October. REPORT.AZ/ The situation in the oil market in 2019 will be very unpredictable, Saudi Minister of Energy Khalid Al-Falih said. 

Report informs citing Interfax that he spoke at the Future Investment Initiative forum. According to the minister, there are uncertainties on both the supply and demand side.

Earlier, Khalid al-Falih said that according to some estimates, in 2019 reserves may begin to grow again due to soared oil production in non-OPEC countries.

The Minister of Saudi Arabia reiterated the intention of the 25 countries of the OPEC + transaction to continue balancing the market both by increasing and reducing production if necessary.

"We constantly monitor the situation and I can assure that we intend to adhere to the course of balancing the market”, Khalid Al-Falih said.