Saudis Are Certain That OPEC+ Will Extend Oil Cuts in 2019
- Kingdom will cut output 3.8% to 10.2 million b/d in January
- Production curbs ‘need more time’ to balance market: Al-Falih
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OPEC, Russia and other oil producers will continue to trim production next year to balance the market, according to Saudi Arabian Energy Minister Khalid Al-Falih.
“We will meet in April and I’m certain that we will extend it,” Al-Falih told reporters in Riyadh, referring to the next meeting of OPEC+ members to discuss whether to extend the December agreement to reduce output. “We need more time to achieve the result.”