January 22, 2017 / 12:34 PM / 3 years ago

OPEC, non-OPEC monitoring committee to meet next after March 17: Kuwait

A soldier patrols in front of the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, November 29, 2016. REUTERS/Heinz-Peter Bader

VIENNA (Reuters) - A committee set up to monitor oil output cuts by OPEC and non-OPEC producers will meet next after March 17 in Kuwait, Kuwaiti Oil Minister Essam Al-Marzouq told reporters following the committee’s first meeting in Vienna on Sunday.

A third meeting of the monitoring committee will be held ahead of OPEC’s May meeting, Al-Marzouq said.

Producers also agreed to form a technical committee to assist the five-member monitoring committee.

The output cuts are aimed at reducing oversupply which has weighed on oil prices since mid-2014.

Reporting by Rania El Gamal; editing by Jason Neely

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below