Saudi EnergyMin: “We are determined to do whatever it takes to bring inventories down to the 5-year average.”

Saudi Arabian Energy Minister Al-Falih crossed the wires now, via Reuters, noting: “We are determined to do whatever it takes to bring inventories down to the 5-year average.”

Meanwhile, both WTI and Brent failed to benefit from the above headlines, now posting daily lows at $ 51.77 and $ 57.09 respectively.