Saudi OilMin Al-Falih: Market intervention may be needed to cut oil stockpiles

In an interview with the state broadcaster al-Ekhbariya, Saudi Arabian Energy Minister Khalid Al-Falih said that he feels the need to intervene in order to reduce oil stockpiles after the increases in recent months.

Key Quotes (via Reuters):

“We (have) entered the stage of worrying about this increase.”

Intervention might be required to return to the stability reached after “tireless efforts during the past year and a half.”