Saudi’s Al-Falih: No discussion of deeper cut today

Livesquawk reports the latest comments that crossed the wires from the Saudi Arabian Oil Minister Al-Falih, noting the following:

Have discussed Libya and Nigeria today

Will further discuss output cap on them both

Oil market will rebalance soon enough

Oil demand is healthy

2017  expected oil demand growth about 1.5m bpd

Only a matter of time before inventories return to 5-year average

Global economy recovery is broad based and stable

We must address head on the weaker compliance with cuts

Demand growth in 2018 should more than offset US oil output growth