Kuwaiti oil minister on the wires
There is almost a consensus among oil producers to extend the supply cut pact for at least six months
6 months is the timeline on most people's lips and the market has factored that in. What's not really factored is whether we see deeper cuts than already in place. It's been mooted but it's not being shouted from the rooftops just yet.
Brent is still holding below the 49.70 break area from last week and that's a big sign the market ain't buying this waffle.
Brent crude daily
