Kuwait Says Global Oil Cuts Can Halt If Market Balances by June
- Russia keen to end output cuts as soon as possible: Kuwait
- Oil market due to re-balance by end-2018; prices to stay same
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OPEC and its global allies including Russia may end their production cuts before 2019 if the crude market re-balances by June, Kuwait’s oil minister said.
Russia is keen to end the output-capping deal as early as possible, Issam Almarzooq told Bloomberg on Sunday in Kuwait City. The Organization of Petroleum Exporting Countries will study an exit strategy from the global cuts accord at its next meeting in June, he told reporters later.