So says Saudi energy minister 30 Nov

  • my preference is for a 9month extension
  • important to have consensus
  • don't think we need to consider deeper cuts
  • premature to talk of exit strategy
  • exit will be gradual
  • IEA is overly bearish on inventories
  • we will look in June what we have done in H1 2018


  • 9 month extension is one option but need to look at others


  • supports extension til end-2018

Lots of comments hitting the wires as the latest OPEC meeting in Vienna getting underway.

Watch live coverage here

Oil prices not impressed and turning lower as I type.