Kuwait oil minister out with the information 24 July
- Nigeria voluntarily agree to 1.8mln bpd cap when they get there and level can be sustained
- no deeper cuts recommended by joint committee
Yep, refusal often offends eh?
- did not agree on a deal with Libya
Laughable really. The circus continues.
Oil price suitably unfazed.
Saudi oil minister:
- oil market outlook is bright and promising
It is you're trading short of the stuff.
- today we had very serious discussions with countries with weak compliance on output cuts
- there are mechanisms to be put in place to strengthen compliance
- we will also have discussions with countries which have inconsistent data on production/exports
- sees accelerated drawdown in oil stocks in H2
- good to see oil output recovering in Libya and Nigeria
- sees limited upside gains from Libya/Nigeria
WTI currently $45.67 with Brent $48.15
Oil market still in disarray
