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Saudis, Russians happy with global oil output curbs - ministers

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Reuters HOUSTON

By Liz Hampton

HOUSTON (Reuters) - Members of an OPEC-led production agreement said on Tuesday that results so far are meeting their expectations and pledged already strong compliance would expand in time.

Total output reductions have exceeded 1.5 million barrels per day, said Saudi Oil Minister Khalid al-Falih. He also said the results had exceeded the low market expectations.

Russian Oil Minister Alexander Novak described the effort as "satisfactory" and said he had discussed compliance and the impact of shale producers with Saudi Arabia.

(Reporting by Liz Hampton; Editing by David Gregorio)

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mar 08 2017 | 5:56 AM IST

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