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Oil market heading towards rebalancing: Qatar minister

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Published Fri, Jun 3, 2016 · 09:50 PM

    Moscow

    GLOBAL oil markets are heading towards rebalancing, Qatar's energy minister said on Friday, a day after the Organization of the Petroleum Exporting Countries (Opec) failed to agree on a clear oil output strategy at a meeting in Vienna.

    "It was a successful meeting, it was full harmony among members. We reviewed thoroughly market's status of oil supply and demand. The worst was over," Mohammed Al-Sada told reporters in Moscow. "The market is heading towards rebalancing."

    QatarOpec

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