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Monday, 16 January 2017

Saudi energy minister: unlikely to extend producers' agreement | Reuters

Saudi energy minister: unlikely to extend producers' agreement | Reuters:

"OPEC and non-OPEC producers are unlikely to extend their agreement to cut oil output beyond six months, because of the level of compliance with the deal and the rebalancing of the market, Saudi Arabian Energy Minister Khalid al-Falih said on Monday. However Falih, speaking to reporters on the sidelines of an industry event in Abu Dhabi, also said producers would reassess the situation and extend the agreement if necessary. "We don't think it's necessary given the level of compliance...and given the expectations of demand," he said."



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