OPEC

Kuwaiti oil minister says OPEC cuts working, market in balance by March

OPEC cuts within range, despite increased production from Libya, Nigeria Kuwait’s oil minister said while the world oil market is taking longer to rebalance than expected and the global oversupply glut should be cleared by the end of March 2018, making further OPEC cuts unnecessary. Essam al-Marzouq told Reuters the cartel does not need to

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OPEC supply cut participants reach 106 per cent compliance in May

OPEC supply cut deal undercut by increased US, Libyan, Nigerian production Participants in the OPEC supply cut pact reached 106 per cent compliance with their pledges, according to Reuters’ sources familiar with the matter. OPEC members taking part in the agreement complied 108 per cent with their commitments while non-OPEC participants’ compliance was at 100

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