January 21, 2018 / 7:17 AM / 6 months ago

Kuwait oil minister says not discussing exit strategy from supply cuts at Sunday meeting

MUSCAT (Reuters) - Kuwait’s oil minister said that a joint oil ministerial monitoring meeting on Sunday would not discuss an exit strategy from current supply cuts.

Speaking to reporters on the sidelines of the event, Bakheet al-Rashidi said any discussion related to current agreement on cuts will done be in a meeting in June.

OPEC, supported by Russia and other non-members, began to reduce output a year ago to remove an oil glut built up in the previous two years.

Reporting By Maha El Dahan in Muscat; Writing by Tom Arnold; Editing by Saeed Azhar

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