Kuwaiti oil minister wants unity in production cuts

  • Predictions on the oil recovery/balance are not accurate
  • Q1 2016 will be a better time to assess oil demand picture
  • Prices are governed by world economic growth
  • OPEC should stick to unity and not cut production alone to balance market
  • Non-OPEC producers must join in any cut
  • Believes oil prices have bottomed out

Brent is maintaining the rally from the end of October and is having a crack at getting above the 50.60/51.00 area once again

Brent crude daily