Saudi Energy Minister Khalid Al-Falih said that the global oil market demands more crude supply in the second half of this year and that OPEC was working towards a good decision on production policy this week, Reuters reported on Wednesday.

 

“I think any decision that we make will be based on fundamentals ... we will be looking at supply and demand, inventory,” Falih told reporters.

 

The Organization of the Petroleum Exporting Countries (OPEC) members will meet on Friday in Vienna, followed by talks with non-OPEC oil producers on Saturday.

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