Kuwait expects an extension to the OPEC/non-OPEC output cut deal
Kuwaiti oil minister on the wires 20 April
- talks still on-going
- there is a noticeable increase in compliance from non-OPEC with output cut pact
Not enough that there is a need for extension to the original time period though it would appear.
25 May the next meeting.
Elsewhere: Saudi Arabia energy min says:
- we didn't reach target to bring down global inventories yet
the Qatar oil min says:
- they expect 2017 global oil demand growth between 1.2-1.4m bpd
and the UAE energy min says:
- return of shale oil will not be a threat but will slow down rebalancing of market
WTI currently $ 51.17 and Brent $53.28 both steady after yesterday's falls.