Saudi Arabia’s Energy Minister Khalid al-Falih said on Thursday it was too early to make an assessment on a possible extension to global oil output cuts but that the market would still not be balanced by March, when the current deal expires.
“We will decide in two weeks (on a possible extension). We’re in extensive consultations with all our colleagues around the world within and outside OPEC and we can’t make any statements at this stage until we get to Vienna in a couple weeks,” Falih said.
“Everybody wants to call it the right way, but stay tuned and you’ll find out when I find out in Vienna,” where the Organization of the Petroleum Exporting Countries meets on Nov. 30.
