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Kuwait Expects Oil Output Cuts to Balance Market in Early 2017

  • Participants ‘highly committed’ to deal: Kuwait oil minister
  • ‘Positive development’ on fields shared with Saudis forecast
Bloomberg business news

Oil Demand as a Test of Market's Lower Limits

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OPEC and other oil producers are likely to comply fully with a deal to reduce supply, bringing global crude markets into balance early this year, Kuwaiti Oil Minister Essam Al-Marzouk said.

Some countries have not yet made the full output reduction agreed to last month, but they will increase cuts over the coming months and all producers are “highly committed” to the deal, Al-Marzouk said Wednesday at a conference in Kuwait City.