Oil markets are improving as supply and demand are seen to be almost balancing, according to Saudi Arabia’s energy minister.
Khalid al-Falih is currently in the US accompanying Saudi Arabian Deputy Crown Prine Mohammed bin Salman on a visit aimed at repairing frayed realtionships with Washington.
The trip was also as part of a transformation plan to reduce the kingdom’s dependence on oil.
He said: “We see that the market has returned into balance. Supply and demand are almost equal.The markets have started to improve in response to this balance.”