Saudi OilMin Al-Falih: OPEC+ needs a few months to drain excess inventory

Saudi Energy Minister Khalid Al-Falih is now out on the wires, reiterating his earlier comments about staying confident that 100% compliance with the output cut agreement will continue for the next four months.

Key quotes (via Reuters)

JMMC meeting’s date to be announced in 2 weeks time.
OPEC+ needs a few months to drain excess inventory.
OPEC+ JMMC most likely to meet in first half of May.
Next OPEC+ meeting on June 25-26 in Vienna.

Mar 18, 2019

All producers at JMMC to exceed voluntary output adjustments in coming months

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Germany's Bundesbank: Growth remained subdued in Q1 due to weak industrial production

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