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Saudi Arabia is counting on the upcoming OPEC meeting to decide on an extension of the supply reduction agreement
13:15 - 08/04/2019
BAGHDAD -
Saudi Arabia's energy minister said on Monday it was too early to talk about a consensus between OPEC and its allies on extending the supply reduction deal, but a meeting scheduled for May would be pivotal because the impact of the current cuts would be clearer by then.
"The committee will be a pivotal point of discussion because we will know by then where the consensus is, and most importantly, before we ask for unanimity, we will know the point of the underlying factors," Faleh told Reuters in an interview. I think May would be pivotal. "
Al - Faleh said that" oil stocks are still higher than average , but the market is moving towards re -balance. "
A joint ministerial committee between OPEC and non-members - the Joint Ministerial Monitoring Committee - will hold a meeting in May.
Saudi Arabia's energy minister said on Monday it was too early to talk about a consensus between OPEC and its allies on extending the supply reduction deal, but a meeting scheduled for May would be pivotal because the impact of the current cuts would be clearer by then.
"The committee will be a pivotal point of discussion because we will know by then where the consensus is, and most importantly, before we ask for unanimity, we will know the point of the underlying factors," Faleh told Reuters in an interview. I think May would be pivotal. "
Al - Faleh said that" oil stocks are still higher than average , but the market is moving towards re -balance. "
A joint ministerial committee between OPEC and non-members - the Joint Ministerial Monitoring Committee - will hold a meeting in May.
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