Saudi energy minister: We expect robust oil demand to continue

Saudi Arabian energy minister Khalid al-Falih crossed the news wires in the last hour, providing key quotes found below.

Haven't seen any major, unexpected declines in oil inventories despite forties pipeline shutdown, decline in Venezuela output.

Premature to discuss any changes to our course, earliest opportunity to assess oil market will be at OPEC's June meeting.

Drawdown of oil inventories will take until H2 2018.

Russia sees benefit of continuing to cooperate with OPEC on oil market stability.

Once we reach oil market balance, then we will need gradual way of exiting current policy.

Expects robust oil demand to continue.

Oil demand is healthy in China, India, U.S. and even traditionally declining regions such as Europe.

We don't expect supply from U.S. to slow rebalancing of oil market.

Don't expect oil market rebalancing to be achieved in next few months, certainly not in H1.