Saudi energy minister: We’d work with anyone interested in balancing the oil market

OPEC’s largest oil producer is willing to work with all parties to balance the crude market in 2019, and that could include U.S. President Donald Trump, Saudi Energy Minister Khalid al-Falih told CNBC on Sunday.

Asked if he would work with Trump, al-Falih replied, “We will work with all interested producers who want to bring stability to the market … OPEC plus and anybody else who would like to do it with us.”

The American president has been vocally critical of the 14-member oil cartel, calling for increased production to keep prices low while the group, along with non-OPEC members like Russia, orchestrated output cuts in order to stem the fall in the market and support their own export-dependent economies. “OPEC plus” refers to the group’s cooperation with non-OPEC producers like Russia and other former Soviet states, as well as Mexico.

The energy minister also confirmed the timeline for the long-delayed public listing of Aramco, Saudi Arabia’s state energy giant. Asked if the listing was still planned for 2021, al-Falih replied, “Yes, yes that’s the correct target.”

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