- Angola‘s minister says willing to cut output (Reuters)
- Iran says will not reduce own crude oil output, those who pumped more should cut (Platts via Twitter @PlattsOil)
- Qatar oil minister says sees OPEC harmony, no crisis (Reuters)
- Venezuela to Propose OPEC Output Cut Amid 2M Barrel Glut (Bloomberg)
Market sees little chance for a cut with Brent diving below $76/barrel.
(Adds more details about Saudi Arabia/Naimi’s comments)
News outlets are focusing today on the comments made by Mr Ali Naimi, oil minister of Saudi Arabia – OPEC’s largest producer.
Here are various clips with more details on this story:
- Bloomberg: Saudi Arabia Says Oil to Stabilize
- Reuters: Saudis signal no push for oil cut as market to ‘stabilise itself’
- FT: Saudi Arabia signals no Opec output target change
In other news, here is what Iran said today about potential production cuts.
Meanwhile, make sure you see this break-even prices in nice infographics form the WSJ. It provides a useful background of different interests in the OPEC group.
The most interesting piece of news so far this morning, is coming from twitter:
Also, make sure you see this break-even prices in nice infographics form the WSJ. It provides a useful background of different interests in the OPEC group.