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Saudi energy minister sees Opec target on track

Khalid al-Falih bullish on organisation’s role in determining future policy

Market forces have shifted significantly since 2014, to the extent that Opec only needed a "gentle hand on the wheel", Khalid al-Falih, Saudi Arabia's Minister of Energy, Minerals and Industry said in the key-note address at WEC. With demand and supply rebalancing, Falih was confident that the aims of Opec's strategy announced two years ago were being achieved. "In 2014, we were seeing North American supply growing much faster than global demand, which was crimped by higher prices. Opec made the vision not to intervene, as this was long-term structural divergence. By June 2015 that divergence had reversed and we are now seeing convergence of supply and demand," he said. In a question and a

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