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.