Oil Market Needs Another Month to Decide If the Rebound Is for Real
- Kuwait oil minister says prices may be past the low point
- OPEC meeting in December in Vienna to discuss oil market
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Even with oil prices possibly past the low point, and production falling from outside of OPEC, there aren’t enough signs to say a full recovery is in the works, Kuwait’s oil minister said.
Oil ministers from the Organization of Petroleum Exporting Countries need until next month to decide if the rebound is for real, and if it’s not, any production cuts shouldn’t fall only on OPEC’s shoulders, Ali Al-Omair said in an interview in Riyadh on Wednesday.