Kuwait oil minister sees balanced oil market towards end 2019 | ZAWYA MENA Edition:
The oil market is expected to be in balance towards the end of 2019, as global inventories fall and demand remains strong, but OPEC's job is not done yet, Kuwait's oil minister told Reuters.
There are still uncertainties around oil demand growth due to concerns about the impact of the U.S./China trade dispute on global economy, while U.S. shale oil production is still rising, Khaled al-Fadhel said on Monday.
This uncertain outlook is making it tough for OPEC and its allies to have a clear oil supply plan for the second half of the year. Fadhel said it was too early to say now if the oil producers will extend their current output targets after June.
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