Saudi OilMin: Iran pre-sanction freeze is acceptable, sees non-OPEC cut of 600k bpd

Saudi Arabian oil minister Khalid al-Falih said on the side-lines of the OPEC meeting that an OPEC agreement would be reached.

Key Headlines via Reuters:

There will be an OPEC agreement, ‘god willing’

Doesn’t know whether optimistic on OPEC deal

Receptive to proposed cuts

Market will recover slowly if there is no agreement

Have been in direct contact with Russia’s Novak

Russia freezing productions levels at all time high is not a contribution

Hoping for non-OPEC cut of 600k bpd

Waiting for market to recover on its own is ‘not a bad outcome’

Iran pre-sanction freeze is acceptable