Qatar’s Minister of Energy and Industry HE Dr Mohamed bin Saleh al-Sada at the Atlantic Council summit in Istanbul late-Thursday, noted that the global energy markets are heading in the right direction.
Key Points via Gulf Times:
A decade of high oil prices had led to a dangerous oversupply, price falls and now an “unprecedented shrinkage” in investment
“A balancing was bound to happen. What we want to do is to hasten that process of balancing”
“The agreement was very successful and it helped the process of rebalancing”
“It (the market) is picking up. We hope to get a more accelerated balancing process in the second half of the year”