On Sunday, Saudi Energy Minister Khalid Al-Falih recommended reducing oil stocks, saying that crude supplies are “abundant around the world.”

And Reuters news agency quoted the Saudi minister, on the sidelines of the meeting of the joint ministerial committee of the Organization of “OPEC”, as saying: “The situation in general is delicate in the oil market.”

Al-Falih was speaking in Jeddah prior to the meeting of a ministerial committee of major producers in OPEC and its allies, including Saudi Arabia and Russia, to discuss the conditions of global oil markets, and to follow up on the work of the committee and the results of its decisions in previous meetings.

.He added: “We see that stocks are still full, (…), none of us wants bloated stocks. We have to be careful,” according to Agence France-Presse