Qatari OilMin: Extending OPEC agreement would help stabilize oil market

Mohammed Saleh Abdulla Al Sada, the minister of energy and industry of Qatar, recently crossed the wires and said that OPEC needed more time to reduce crude inventories towards the five-year average and further added that extending the output cut agreement would help stabilize the market. Earlier in the session, Venezuela's oil minister Eulogio Del Pino argued that the market had found balance.