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Saudi Energy Minister at work with oil producers to balance the market



OPEC's largest oil producer is willing to collaborate with all parties to balance the crude market in 2019, which may include US President Donald Trump, said Saudi Energy Minister Khalid al-Falih to CNBC on Sunday.

4-member cartel, and requires increased production to keep prices low while the group, along with non-OPEC members such as Russia, organized the production cuts to limit the fall in the market and support their own. Export-dependent economies "OPEC plus" refers to the group's cooperation with non-OPEC producers such as Russia and other former Soviet states, as well as Mexico.

The Minister of Energy also confirmed the timeline of the long delay of public listing of Aramco, Saudi Arabia's government energy giant. Asked if the listing was scheduled for 2021, al-Falih replied, "Yes, yes it is the right target."


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