JEDDAH, Saudi Arabia—Saudi Energy Minister Khalid al-Falih said on May 19 he recommended “gently” driving oil inventories down at a time of plentiful global supplies and that OPEC would not make hasty decisions about output ahead of a June meeting.
“Overall, the market is in a delicate situation,” Falih told reporters before a ministerial panel meeting of top OPEC and non-member oil producers, including Saudi Arabia and Russia.
