Khalid al-Falih


Last quote by Khalid al-Falih

There is a general satisfaction with the strategy of 24 countries that signed a declaration of cooperation. Everybody recognizes that (the) job is not done yet by any means we still have significant amount of work to do to bring inventories down. Mission is not yet complete, more needs to be
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Nov 04 2017
Khalid al-Falih has been quoted 86 times. The one recent article where Khalid al-Falih has been quoted is Energy security in Asia 'may be fatally compromised, ' Saudi's Khalid Al-Falih says. Most recently, Khalid al-Falih was quoted as having said, “I am concerned about future energy security – especially in Asia, where demand is rising much faster than the industrialized economies. Without the higher investment levels... energy security may be fatally compromised.”.
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Khalid al-Falih quotes

Jul 24 2017 - Nigeria

We must acknowledge that the market has turned bearish with several key factors driving these sentiments. Some countries continue to lag which is a concern we must address head on. Exports have now become the key matrix to financial markets and we need to find a way to reconcile credible exports data with production

Jun 19 2017 - Libya

In my opinion, market fundamentals are going in the right direction, but in light of the large surplus in stockpile over the past years, the cut needs time to take

Jun 19 2017 - Nigeria

Short-term volatility is mostly a reaction to short-term factors ... as well as the role of speculators in stock markets that increase market

Jun 19 2017 - Nigeria

The market often tends to ignore these criteria and focus on the drop in U.S. inventories that came below

Jun 10 2017 - Oil

I am convinced that the overall trend for the market is that of

May 25 2017 - OPEC

We would do it in six months but then we'd have a seasonal build [of supply] in the first quarter which could undo what we've done so we went for the safe bet of extending to nine

May 25 2017 - OPEC

It seems highly likely, although we can never be certain until the decision is made, that we're going to roll over with the same terms over a nine-month

May 21 2017 - Oil

We believe that continuation with the same level of cuts, plus eventually adding one or two small producers...will be more than adequate to bring the five-year balance to where they need to be by the end of the first quarter

May 20 2017 - Saudi Arabia

We think we have everybody on board. Everybody I've talked to indicated that nine months was a wise

May 15 2017 - OPEC

We've come to the conclusion that the agreement needs to be extended, we will not reach the desired inventory level by end of

May 15 2017 - OPEC

There has been a marked reduction to the inventories, but we're not where we want to be in reaching the five-year average. We've come to conclusion that the agreement needs to be

Apr 20 2017 - Kuwait

There is consensus building but it's not done yet. Our target is the level of inventories. This is the main indicator for the success of the

Apr 17 2017 - Clean energy

The energy mix to produce electricity will change, today the kingdom uses large quantities of oil liquids, including crude, fuel oil and diesel. So the percentage of renewable energy by 2023 (will be) 10 percent of total installed capacity in the kingdom. Since the restructuring of the energy sector ... one of our key priorities is to engage with the private

Apr 10 2017 - Clean energy

The market response to the Kingdom's invitation to its first renewable energy projects has been overwhelmingly positive, demonstrating market confidence in our vast renewable energy potential and investment

Mar 17 2017 - Iran

It has brought it to yet a higher level than it has ever been, and there is alignment on all of the major issues between the two governments, and it's been, I think, further helped by the personal bond that was created between his royal highness, the deputy crown prince, and President

Mar 16 2017 - OPEC

I can tell you that in the first four months we will be well above our commitment. So we committed, but we seek equal commitment by

Mar 14 2017 - OPEC

Green shoots are here in the U.S. and maybe growing too fast. I am moderating the watering of green

Mar 09 2017 - OPEC

All of us realize that such an expanded network of producers with a larger share of global production is the only way to achieve a constructive, stable market for

Mar 09 2017

We welcome the new administration's attention to strategic energy issues. I personally look forward to working with the new

Mar 07 2017 - OPEC

It's not a matter of whether the U.S. should or shouldn't invest in its shale and contribute to the global market supply base. It's the pace at which it can supply. OPEC obviously will not indefinitely reduce its production and market share to make room for that. So we need to find that balance and grow in line with the

Mar 07 2017 - OPEC

Though I would caution that my optimism should not tip investors into what I would call irrational exuberance or wishful thinking that OPEC or the kingdom will underwrite the investments of others at our own expense and long-term

Mar 07 2017 - OPEC

History has also demonstrated that intervention in response to structural shifts is largely ineffective, and I believe we in the organization have learned that lesson. That's why Saudi Arabia does not support OPEC intervening to alleviate the impacts of long-term structural imbalances. In light of improving fundamentals, whose effect has been amplified by the OPEC and non-OPEC cooperation framework, I am optimistic about the global market outlook in the weeks and months

Feb 02 2017

It will probably be done concurrently, but we have not announced. We are evaluating. All our options are

Feb 01 2017 - Oil

We had billions of dollars invested in refining and distribution in the United States and we may be increasing that investment on the back of pro-industry, pro-oil and gas policies of the Trump administration in the

Feb 01 2017 - Saudi Arabia

President Trump has policies which are good for the oil industry and I think we have to acknowledge it. We have no problem with the growth of American indigenous oil supply. I have said it repeatedly as long as they grow in line with global energy demand, we welcome

Jan 24 2017 - OPEC

I have very little doubt that supply to market will come in for January just under 10 million barrels per day. That's as good as it gets at this point in

Jan 22 2017

We have not reduced the number of drilling rigs during the crisis. Around 220 oil rigs are in operation. Aramco can capitalise on low production costs to increase funding for these ongoing investments from its own resources, and they have absolutely not been affected by the drop in

Jan 20 2017

I believe if the investment flows that we have seen the last two or three years continue in the next two or three years, we will have a shortage of oil supply by

Jan 20 2017

We know, from what we have seen in the last couple of years, that prices around the current level and below are not attracting enough investment. We know the level of decline, natural decline, that existing production is undergoing, and we know that demand is picking up at, you know, 1.2 to 1.5 million barrels a

Jan 20 2017

So between increase in demand and natural decline, we need millions of barrels every year to be brought to the market, which requires massive

Jan 20 2017 - Saudi Arabia

Saudi Arabia in 10, 15 years will be quite, in a positive way, dramatically different than the Saudi Arabia of the past. It will be quite a diverse economy, with a diverse energy mix, as well, with a young workforce that is productive and contributing for their own well-being, and for Saudi Arabia, and indeed for our region and

Jan 20 2017

It is not unique to our country to feel a certain level of anxiety (about tensions). But there is a lot of wisdom on both sides... I hope this anxiety will prove

Jan 20 2017

The two largest economies need to sort out their differences for the wellbeing of the global

Jan 17 2017 - OPEC

Many countries are actually going the extra mile and cutting beyond what they've committed ... I am confident about the impact ... and I am very encouraged about those first two

Jan 16 2017 - OPEC

My expectations (are)...that the rebalancing that started slowly in 2016 will have its full impact by the first half. Once we get close to the 5-year average of global stocks and inventories we will basically let our foot off the brakes and let the market do its

Jan 16 2017 - Saudi Arabia

We will connect to Africa to exchange non-fossil sources of

Jan 16 2017 - Saudi Arabia

There will be significant investment in nuclear

Jan 12 2017 - OPEC

We have been moving towards rebalancing the markets for some time. Even better, the pace of rebalancing will be accelerated by recent production agreements within OPEC and outside. I have confidence in these agreements to bring stability to the global

Jan 12 2017 - OPEC

I am confident that the combination of capping production by 25 countries and growth of demand will continue to balance and prices will respond

Dec 10 2016 - Saudi Arabia

The intent by all those who participated is to contribute to drawing down oil inventories that are excessive. And whether the reduction in that over-supply comes from deliberate intervention – like it is the case in Saudi Arabia – or by simply managing the decline in a way that makes them meet this agreement is left to the countries

Dec 09 2016 - OPEC

We will know the exact numbers tomorrow but I am expecting about 10 to 11 countries to be on the final declaration with specific

Nov 30 2016 - Sanctions

We have agreed to a waiver from a cut to Iran in recognition of the impact of the sanctions on their economy and their

Nov 28 2016 - OPEC

We expect the level of demand to be encouraging in 2017, and the market will reach balance in 2017 even if there is no intervention by OPEC. But OPEC intervention aims to expedite this balance and the market recovery at a faster

Nov 17 2016 - Algeria

I'm still optimistic that the consensus reached in Algeria for capping production will translate, God willing, into caps on states' levels and fair and balanced cuts among

Nov 16 2016

If you think of economies like India and China and other energy intensive economies, I think the U.S. has a lot more flexibility to meet Paris with less

Nov 16 2016

The U.S. already enjoys a competitive advantage in terms of its energy costs and I think, given what is happening in technology and renewables, especially in the US capabilities in that regard, I think the U.S. will find that provided everybody lives by Paris, the U.S. would retain if not improve its global competitive

Nov 16 2016 - Greenhouse gases

It's not simply their duty, it's in their

Nov 16 2016

It is common that once presidents start governing then a lot more substance comes

Nov 04 2016

By holding his ground, minister al-Naimi was not necessarily protecting Saudi Aramco, he was protecting the kingdom from having substantial value drained away in those

Oct 19 2016 - OPEC

Their contribution to stabilisation could be as significant as those made by OPEC

Oct 19 2016

Market forces are clearly working after a testing period of sub-$30 prices. The fundamentals are improving and the market is clearly balancing the supply and demand

Oct 19 2016

We want some clarity on where those producers are as we approach the meeting in

Oct 11 2016 - OPEC

I can say that many countries from outside OPEC are willing to join ... we are not talking about support, we are talking about

Oct 09 2016 - OPEC

I think, OPEC needs to make sure we don't crimp too tightly and create a shock to the market. Like I said, we want to be very responsible, if prices have dropped too low. That has an impact on investment, many companies are hurting. Many countries are hurting. That needs to be relieved. But at the same time we don't want to give the market the opposite signal and shock markets or prices because that could be

Sep 27 2016

There is no offer, there is just consultation, trying to figure out where the market is going and to get to a consensus view. That will happen in due course, and the mood is generally very

Sep 27 2016 - Algeria

We are optimistic about the fundamentals. The market is trending in the right direction, slower than what we had hoped for a few months ago but the fundamentals are moving in the right

Sep 05 2016

But it does not have to happen specifically

Aug 23 2016

Domestic demand usually goes up during the summer due to increasing use of electricity for

Aug 16 2016

Rebalancing is already taking place. We are on track and prices should reflect

Aug 11 2016 - Algeria

We are going to have a ministerial meeting of IEF in Algeria next month, and there is an opportunity for OPEC and major exporting non-OPEC ministers to meet and discuss the market situation, including any possible action that may be required to stabilize the

Jan 25 2016

Demand will grow, as it has already started in 2015, and there will be a period not far into the future (when) demand will catch up with

Jan 24 2016 - Saudi Arabia

The economic value of Saudi Aramco as a company is what will be offered. Naturally, the primary field of Saudi Aramco's work is managing the reserves of Saudi Arabia. The reserves belong to the state but the company's ability to convert these reserves... into a financial value and at the same time for the company to have a portion of these profits will be part of the value of the

Jan 22 2016

The price itself is irrational if you ask

Jan 21 2016

If prices continue to be low, we will be able to withstand it for a long, long time. If there are short-term adjustments that need to be made, and if other producers are willing to collaborate, Saudi Arabia would be also willing to collaborate. But Saudi Arabia will not accept the role by itself of balancing the structural imbalance that is happening

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