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ABU DHABI (Reuters) - Leading Gulf oil producers Saudi Arabia and Kuwait gave the clearest signal yet that OPEC plans to extend into the second half of the year a deal with non-OPEC producers to curb oil supplies.
"We have a noticeable increase in compliance from non-OPEC which shows the importance of extending the agreement," Marzouq said.
Saudi Oil Minister Khalid al-Falih, speaking at the same event, said there was "an initial agreement" that the oil cuts may need extending to drain high global inventories. He said talks were ongoing.
"Our target is the level of inventories. This is the main indicator for the success of the initiative," Falih said.
While inventories held at sea and in producer countries have dropped, they remain stubbornly high in consumer regions, particularly in Asia and the United States.
The International Energy Agency said last week that inventories in OECD countries were still 10 percent above the 5-year average, a key gauge for OPEC.
(reporting by Rania el-Gamal, editing Richard Mably)
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