Kuwaiti oil minister out on the wires 23 May

  • not everyone on board for 9 month extension
  • meeting in Vienna will discuss 6 or 9 month extension
  • deeper oil output cuts not being considered by producers at this time

Oil and cold water. Never a good mix.

OPEC/non-OPEC meeting takes place 25 May

WTI $50.64 in retreat from $51.20 but just off session lows

Oil cut extension on the agenda 25 May