- Saudi oil minister Khalid Al-Falih: Confident that March oil production cuts compliance is to exceed 100%
Market news
18 March 2019
Saudi oil minister Khalid Al-Falih: Confident that March oil production cuts compliance is to exceed 100%
- OPEC+ needs a few months to drain excess inventory
- No OPEC+ meeting in April, the next one to be in June
- The next meeting of the Joint Ministerial Monitoring Committee (JMMC) is likely in the first half of May; date to be announced in the next two weeks
- Inventory glut needs to be drained before cuts are ended
- We will swing our oil production if necessary
- Expect inventory drop between now and May
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