Oil producers consider output cut extension as support grows - BBG

Dhwani Mehta FXStreet

Bloomberg carries an article on oil markets, noting that oil producers asked OPEC to make a recommendation in a month on the possibility of prolonging the supply curbs, after they backed output cuts extension at their meeting in Kuwait held over the weekend.

Venezuela’s Oil Minister Nelson Martinez noted on Sunday, “We are ready to support” extending the deal, which took effect in January.”

Mohammed Al Rumhy, energy minister for non-OPEC producer Oman, “It does make sense to extend the agreement for another six months.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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