Global oil inventories were "high", Naimi told the al-Hayat newspaper, equivalent to around 60 days of forward cover, but were expected to decline soon as demand picks up with an improving global economy.
In remarks published today, Naimi also told Al-Hayat that Opec will not change its oil supply policy when the group meets last today.
"Saudi Oil Minister Ali Al-Naimi, upon arrival in Vienna yesterday, has described the oil market as stable and current prices satisfactory.
