Saudi OilMin calls for extending cooperation between oil producers beyond 2018

Dhwani Mehta FXStreet

Saudi Arabia's Energy Minister Khaled al-Falih said before a meeting between OPEC and non-OPEC countries in Muscat on Sunday, he pushes the case for extending cooperation between the OPEC and non-OPEC producers beyond 2018 to boost oil prices further.

Key Quotes:

Extending cooperation would convince the world that coordination among producers was "here to stay".

"We shouldn't limit our efforts to 2018 - we need to be talking about a longer framework of cooperation. I am talking about extending the framework that we started, which is the declaration of cooperation, beyond 2018.”

"This doesn't necessarily mean sticking barrel by barrel to the same limits or cuts, or production targets country by country that we signed up to in 2016, but assuring stakeholders, investors, consumers and the global community that this is something that is here to stay. And we are going to work together."

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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