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Kuwait, Saudi signal likely extension of oil cuts

Reuters  |  ABU DHABI 

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."I expect we will have an extension of the agreement," Kuwait's oil minister Essam al-Marzouq said at a Gulf industry forum with five other Gulf energy ministers. "We have a noticeable increase in compliance from non-OPEC which shows the importance of extending the agreement," Marzouq said.OPEC is keen that non-OPEC play its part in reducing world inventories to support a price rise ...

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First Published: Thu, April 20 2017. 13:11 IST
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