OPEC could extend its oil output cuts to the end of 2017, provided other producers continue to play ball.
Less than two weeks into an agreement between OPEC and non-OPEC producers to cut output by 1.8 million barrels per day, Saudi Arabia and Kuwait say they are open to prolonging the six-month deal.
“If we continue to see the current level of prices and the commitment of the community, as well as non-OPEC at a satisfactory level, I think we could renew it for another six months,” Kuwait’s oil minister, Issam Almarzooq, told CNNMoney.
