Saudi Arabia's energy minister said on Sunday the oil market was becoming more balanced and prices were stabilizing.
Khalid
al-Falih said Saudi Arabia, the world's biggest oil exporter, would
always strive to stabilize the oil market, a statement by the energy
ministry said on Sunday.
"In
doing so, the Kingdom secures the flow of oil supplies as it retains a
spare production capacity," the minister, attending a climate meeting in
Berlin, was quoted as saying in the statement.
His
remarks echo earlier comments made on Monday by the Saudi minister in
the Saudi city of Dhahran at a meeting with newly appointed OPEC
secretary general, Mohammed Barkindo.
Reuters - (Reporting By Maha El Dahan. Editing by Jane Merriman)
