Kuwait OilMin: All options are on the table - Reuters
|Ahead of tomorrow's important OPEC meeting, a ministerial monitoring committee consisting of OPEC members Kuwait, Venezuela, Algeria and non-OPEC Russia and Oman met in Vienna on Wednesday. Following the meeting, Kuwaiti oil minister Essam al-Marzouq spoke to reporters, saying that all options were still on the table including the possibility of deepening the cuts or prolonging them by 12 months, as per Reuters reported.
Key quotes (via Reuters):
- Several delegates and ministers including Algeria said they did not believe cuts could be extended to a full year
- OPEC members Iraq and Algeria, as well as top non-OPEC producer Russia, also said they support a nine-month extension
- The Organization of the Petroleum Exporting Countries meets formally in Vienna on Thursday to consider whether to prolong the deal reached in December in which OPEC and 11 non-members agreed to cut output by about 1.8 million barrels per day in the first half of 2017
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.