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Tuesday, 16 May 2017

Kuwait Joins Saudis, Russia to Seek Oil-Cuts Extension Into 2018 - Bloomberg

Kuwait Joins Saudis, Russia to Seek Oil-Cuts Extension Into 2018 - Bloomberg:

"Kuwait joined Saudi Arabia and Russia in supporting an extension of oil-output cuts by OPEC and other global producers through the first quarter of 2018 to help trim global stockpiles. Extending the cuts at already agreed-upon volumes is needed to reach the goal of trimming global stockpiles to the five-year average, Kuwait’s Oil Minister Issam Almarzooq said in an emailed statement on Tuesday. “There are positive signals that have started to show, as April and May monthly reports are showing that global stockpiles have fallen significantly,” Almarzooq said."



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