OPEC committee: pace of oil rebalancing quickening - BBG

Haresh Menghani FXStreet

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.

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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