Saudi OilMin Al-Falih: Confident that 2019 will be a year whereby oil market will be stable

Reuters is out with the latest comments by the Saudi Arabian and Nigerian Oil Ministers Al-Falih and Kachikwu following the conclusion of their meeting.

Saudi Arabia’s Al-Falih noted that Nigeria and Saudis met as countries prepare for OPEC Vienna meeting.

Additional Comments:

Oil volatility amplified by geopolitical tension.

Talks with Nigeria important ahead of the Vienna OPEC meeting next week.

Confident of reaching a resolution to stabilize the oil market and is confident that 2019 will be a year whereby oil market will be stable.

Cooperation is required by all OPEC members.

Meetings around this time will hopefully lead to a consensus amongst OPEC, OPEC+ to stabilize the market.

Meanwhile, Nigerian Oil Minister Kachikwu said that Saudis and Nigeria held talks on energy collaboration.

Kachikwu seconded Al Falih’s view that OPEC+ will take necessary action to stabilize oil prices.