Saudi’s Al-Falih: No discussion of deeper cut today
|Livesquawk reports the latest comments that crossed the wires from the Saudi Arabian Oil Minister Al-Falih, noting the following:
Have discussed Libya and Nigeria today
Will further discuss output cap on them both
Oil market will rebalance soon enough
Oil demand is healthy
2017 expected oil demand growth about 1.5m bpd
Only a matter of time before inventories return to 5-year average
Global economy recovery is broad based and stable
We must address head on the weaker compliance with cuts
Demand growth in 2018 should more than offset US oil output growth
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