"We hope that we will balance the market before
next year. We are working on it," Falih told reporters on the
sidelines of a meeting of G20 energy and environment ministers
in Karuizawa, Japan, when asked about the current oil market
situation.
Falih said earlier this month that the Organization of the
Petroleum Exporting Countries (OPEC) was close to agreeing to
extend a pact on cutting oil supplies beyond June, although more
talks were still needed with non-OPEC countries that were part
of the production deal.
(Reporting by Yuka Obayashi; editing by Christian Schmollinger)
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