January 9, 2017 / 5:21 PM / a year ago

Kuwait expects big commitment to global supply cut deal

KUWAIT (Reuters) - Kuwait Oil Minister Essam Al-Marzouq said on Monday that he expected a “big commitment” by OPEC and non-OPEC producers to the global oil supply cut deal reached late last year.

Marzouq was talking at a joint news conference with OPEC Secretary-General Mohammed Barkindo who is currently visiting Kuwait.

Marzouq said a committee meeting in Vienna on Jan 21-22 to monitor compliance with the agreement will agree on “a final monitoring mechanism.”

“The first data for the production cuts will be clear by the beginning of February and even if the cut was not complete, it would be a start,” he said.

Reporting by Ahmed Hagagy; Writing by Rania El Gamal; Editing by Adrian Croft

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