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Apr 20, 2017 12:34 PM IST | Source: Reuters

Kuwait oil minister says expects extension of OPEC, non-OPEC deal

Kuwait's oil minister Essam al-Marzouq said on Thursday he expected a global pact to cut oil supplies to be extended beyond June, supported by higher compliance from non-OPEC producers.

Kuwait oil minister says expects extension of OPEC, non-OPEC deal

Kuwait's oil minister Essam al-Marzouq said on Thursday he expected a global pact to cut oil supplies to be extended beyond June, supported by higher compliance from non-OPEC producers.

"We have a noticeable increase in compliance from non-OPEC which shows the importance of extending the agreement," Marzouq told an industry event with other Gulf oil ministers including Saudi Arabia's energy minister Khalid al-Falih in Abu Dhabi.

"I expect we will have an extension of the agreement," he said, adding that talks among all oil producers were ongoing.
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