Kuwait's OPEC governor says signs point to output freeze

 05 Apr 2016 - 10:46

Kuwait's OPEC governor says signs point to output freeze

KUWAIT: All signs suggest that a meeting of OPEC and non-OPEC oil producers in Doha on April 17 will produce an initial agreement to freeze output, Kuwait's OPEC governor Nawal Al-Fuzaia said on Tuesday.

Fuzaia, giving a speech at the oil ministry, also said she expected the oil market to achieve a balance between supply and demand in the second half of this year.

The Brent crude oil price, now at $37.42 a barrel, is expected to average between $45 and $60 in the second half of this year and until 2018, she added.

Reuters