OPEC and its allies may prolong production cuts after they expire in June if the world’s crude inventories remain excessive, Saudi Arabia’s Minister of Energy, Khalid Al-Falih, said. The curbs will be sustained if stockpiles are “still above the five-year average, if the markets are still not confident in the outlook, if we don’t see companies and investors feel good about the health of the global oil industry,” he said. “We want to signal to them that we’re going to do what it takes to bring the industry back to a healthy situation.” The strategy is moving global markets in the “right direction” and fundamentals have improved considerably, Al-Falih said, adding that OPEC’s partners are “fully committed” to cutting output. “Some are trying to iron out the process of controlling production, which they’ve never done before, I believe in the sincerity of their effort.”