Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

BREAKING NEWS

BREAKING NEWS

Saudi's Falih: we don't want to engage in race to up oil output

Saudi's Falih: we don't want to engage in race to up oil output
FILE PHOTO: Saudi Energy Minister Khalid al-Falih attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia June 7, 2019. REUTERS/Maxim Shemetov -
Copyright
MAXIM SHEMETOV(Reuters)
Text size Aa Aa

ST PETERSBURG (Reuters) – Saudi Energy Minister Khalid al-Falih on Friday said he is unwilling to engage in a race to increase oil output to compensate for lower prices, saing a return to the price-crash environment of 2014-15 is simply unacceptable.

Speaking at an economic forum in St Petersburg, Russia, Falih said that perfect stability on the oil market had not been achieved and the market was being influenced by factors outside “our” control.

(Reporting by Katya Golubkova, Dmitry Zhdannikov, Olesya Astakhova; writing by Tom Balmforth; editing by David Goodman)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.