Saudi OilMin Al-Falih: OPEC and non-OPEC continue to play their role in balancing the oil market

Further comments are out on the wires from the Saudi Arabian Energy Minister after he said that there is the likelihood of the OPEC output cuts extension.

OPEC and non-OPEC continue to play their role in balancing the oil market.

But sustaining that role requires timely investments, reliable supply, and appropriate spare capacity.

Energy policies of many consuming countries undermine oil and gas development.

Difficult to predict on OPEC+ supply cut agreement extension now.