RIYADH (Reuters) - OPEC would do better to leave the oil market slightly short of supplies rather than ending too early a deal on cutting output, Saudi Energy Minister Khalid al-Falih said on Wednesday.
He said the Organization of the Petroleum Exporting Countries and its non-OPEC allies such as Russia would need to consider in coming months how to adjust targets, including how to measure the five-year average of oil stockpiles.
Falih said OPEC should take into account non-OECD inventories, floating storage and oil in transit. At present, targets are based on stockpiles in industrialized OECD nations.
Reporting by Rania el Gamal; Editing by Edmund Blair