Saudi oil minister in interview with Reuters
Saudi oil minister in interview with Reuters says:
- jury still out where oil market will be in March
- wants to see 2 conditions before raising output - lower global oil inventories and price backwardation
- wants to see inventories as close as possible to 2010-2014 average levels
- would not consider pumping more oil unilaterally to punish other producers for not cutting enough
- committed to continued cooperation with Russia beyond March
- expects oil output resumption from joint fields with Kuwait very soon, will not impact OPEC cut commitments
