Kuwait’s OPEC Governor: Saudi Arabia to UAE comply with OPEC output cuts - BBG

Bloomberg reporting comments from Kuwait’s governor to the OPEC, Nawal Al-Fezaia, noting that oil producers from Saudi Arabia to the United Arab Emirates (UAE) are complying with output cut deal reached last year to increase oil prices.

Key Quotes:

“It’s a good time to do maintenance on oil fields during production cuts”

Libya and Nigeria need more time to boost their production before they can be considered to join in the cuts. Once both these countries resume full production capacity, we will review this"

“Extension of the current deal or additional cuts depend on conditions in the oil market, the recovery of prices and reduction of the oversupply”