So says the Qatar energy minister speaking in London 22 Feb
- need oil price higher than $50 to bring back investment
- expects global inventories to be in better shape towards Q3
- OECD stocks have started to decline globally
Monitoring committee was set up to keep report back on the OPEC/non-OPEC oil production cut agreement which so far averages around 90% completion of targets set.
The IEA warned in their last bulletin though that the deal remains in a "probation period"
Oil prices have been in general decline all session after starting to retreat in NY yesterday but remain underpinned still for the moment.
