Saudi Arabian oil minister on the wires 4 Dec

  • doesn't think OPEC will alter course in H2 2018
  • oil producers have plenty of crude supply to respond in case of sudden disruptions
  • some of the 1.8m bpd cut won't return, it's involuntary
  • OPEC won't let go until market has become balanced
  • will have clearer idea on balanced market by June
  • not expecting oil inventories to grow much in next 4 months
  • US shale oil output expected to grow amid OPEC cuts

Oil prices not fazed by the comments and trading tightly after early-Asia dip.