24-01-2018

Qatar sees oil market balancing in third quarter of 2018

Oil markets should reach balance after several years of supply glut some time in the third quarter of 2018, Qatari Energy Minister Mohammed al-Sada told Reuters on the sidelines of the World Economic Forum in Davos.

Al-Sada said the majority of the surplus has been taken away by the market but he still sees excellent opportunities for OPEC and non-OPEC members to continue cooperation beyond 2018.

He said that oil producers could also target the flow of investments into the sector.

Supply shock is a possibility if the flow of investment remains restrained, as it has done over the past several years, he said.

Source: Reuters

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