Saudi Arabian OilMin Al-Falih: Output cuts will take time to be reflected in the market

Saudi Arabian Energy Minister Al-Falih was on the wires last minutes, via Reuters, noting that it will take time for the production cuts to be reflected in the market.

He said further that the OPEC+ 1.2 million bpd cuts will have a 'strong impact' on the market.

On Monday, Al-Falih said that the OPEC+ will meet commitments to cut output while adding that the global economy is strong and there is no cause for worry.