Oil cuts by Opec, allies on right track to balance the market: Saudi

Energy Minister Al-Falih says group ready to do more if needed

Saudi Arabia’s energy minister is confident OPEC and allied suppliers have made the correct oil-output curbs to remove a glut and that the coalition will stick together in case further adjustments are needed.

“If we look beyond the noise of weekly data and vibration in the market, I remain convinced we are in the right track,” Khalid Al-Falih said at a conference in Abu Dhabi. If more needs to be done for oil, “we will do it.”

The Organization of Petroleum Exporting Countries, led by Saudi Arabia, agreed to cut oil output this year to support prices. The group and