Oman's Oil Min.: OPEC+ discussing production cuts only for 3-6 months

Haresh Menghani FXStreet

Oman's oil minister Mohammed bin Hamad al-Rumhi was out with some optimistic comments in the last hour, saying that OPEC+ (allies) will reach a deal this week to cut oil output.

Key quotes:

• Do not know if OPEC needs to cut more than 1 million bpd.
• OPEC to discuss exceptions for individual nations.
• Should treat Venezuela, Libya, Nigeria, Iran differently.
• OPEC+ discussing production cuts only for 3-6 months.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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