# Saudi energy minister recommends driving down oil inventories, says supply plentiful

> Saudi Energy Minister Khalid al-Falih recommended gently reducing oil inventories while saying global supply was plentiful. He said OPEC would wait for more data at its late-June meeting before deciding on output. He pointed to a US-China trade dispute as one reason the outlook was unclear.

- Date: 2019-06-01 · published 2019-06-01T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/59019-saudi-energy-minister-recommends-driving-down-oil-inventories-says-supply
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Signals that OPEC will not act hastily leave crude prices reliant on trade-war demand concerns, keeping energy input costs range-bound.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-03-07 | [Saudi oil minister says no 'free rides' for non-OPEC producers](https://feedsoft.ai/events/71901-saudi-oil-minister-says-no-free-rides-for-non-opec-producers.md) | -9.6% | -5.5% |
| WTI | 2019-09-09 | [New Saudi energy minister urges producers to share burden \| AP News](https://feedsoft.ai/events/57007-new-saudi-energy-minister-urges-producers-to-share-burden-ap-news.md) | -3.0% | -6.5% |
| WTI | 2021-05-31 | [OPEC+ Talks to Offer Clues on Next Phase of Oil Supply Revival - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/47013-opec-talks-to-offer-clues-on-next-phase-of-oil-supply-revival-energy-news-top.md) | +4.4% | +10.0% |
| WTI | 2020-12-04 | [OPEC holds it 12th Ministerial and non-OPEC Ministerial Meeting – Energy Focus Report](https://feedsoft.ai/events/49557-opec-holds-it-12th-ministerial-and-non-opec-ministerial-meeting-energy-focus.md) | +2.5% | +4.1% |
| WTI | 2025-02-06 | [Q&A: Repercussions of Saudi Oil Decisions Amid Competing Trump and OPEC+ Priorities - Center on Global Energy Policy at Columbia University SIPA \| CGEP %](https://feedsoft.ai/events/25949-q-and-a-repercussions-of-saudi-oil-decisions-amid-competing-trump-and-opec.md) | +0.5% | -6.6% |
| BRENT | 2017-03-07 | [Saudi oil minister says no 'free rides' for non-OPEC producers](https://feedsoft.ai/events/71901-saudi-oil-minister-says-no-free-rides-for-non-opec-producers.md) | -8.4% | -5.0% |
| BRENT | 2019-09-09 | [New Saudi energy minister urges producers to share burden \| AP News](https://feedsoft.ai/events/57007-new-saudi-energy-minister-urges-producers-to-share-burden-ap-news.md) | -1.1% | -4.3% |
| BRENT | 2021-05-31 | [OPEC+ Talks to Offer Clues on Next Phase of Oil Supply Revival - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/47013-opec-talks-to-offer-clues-on-next-phase-of-oil-supply-revival-energy-news-top.md) | +2.4% | +7.5% |

## Sources

- energy.economictimes.indiatimes.com: https://energy.economictimes.indiatimes.com/news/oil-and-gas/saudi-energy-minister-recommends-driving-down-oil-inventories-says-supply-plentiful/69407695

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.