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Saudi Arabia calls for restraint until oil market recovers

LONDON, Apr 1 (Reuters) – Oil producers in the OPEC + alliance should take a cautious stance as the recovery in the global oil market is far from complete, Saudi Arabia’s energy minister said on Thursday.

“Last month we called for a moderate and cautious approach and fortunately we were correct with the events that followed,” said Prince Abdulaziz bin Salman at the opening of the formal OPEC + meeting.

“Now the market has realized that a cautious OPEC + stance is the right course (…) the reality that persists on the global scene is far from balanced and the recovery is far from materializing.”

(OPEC team report. Edited in Spanish by Marion Giraldo)

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