Saudi Arabia’s Oil Minister, Khalid Al-Falid, said the oil market is rebounding on the strength of an OPEC production cut but warned the kingdom won’t stand for “free riders” boosting output at its expense.
“There is cause for cautious optimism as we see the green shoots of the recovery, driven by a better outlook on fundamentals coupled with the historic production agreement of three months ago,” the Minister told the annual CERAWeek energy conference Tuesday.
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