OPEC committee: pace of oil rebalancing quickening - BBG
|According to a Bloomberg report, citing people familiar with the matter, the latest discussions of the Joint Technical Committee of OPEC and non-OPEC nations have concluded that the oil glut is dissipating at a faster pace and the market will now rebalance between Q2 and Q3.
Additional headlines:
• Previous discussions concluded that the rebalancing would only occur in Q3 earliest.
• The scenario assumes that Libya and Nigeria keep output at January levels and other participants in the deal maintain full compliance with cuts.
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