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The Wall Street Journal: Top Saudi oil official says OPEC cutback compliance ‘very good’

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Saudi Minister of Energy, Industrial and Mineral Resources Khalid Al-Falih speaks in December 2016.

VIENNA—Saudi Arabia’s oil minister said Saturday the Organization of the Petroleum Countries was showing “very good” compliance with an agreement to cut back its output of crude oil, part of the cartel’s bid to raise global prices.

Khalid al-Falih, the top Saudi oil official, met with other OPEC ministers over dinner Saturday night in Vienna ahead of talks Sunday over the 13-nation cartel’s adherence to its November agreement to slash almost 4% of its output, or about 1.2 million barrels a day.

Read: Oil ends higher on global supply declines, but U.S.

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