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Kuwait says agreement on oil output cuts must satisfy all parties
May 23, 2017 / 10:32 AM / 3 months ago

Kuwait says agreement on oil output cuts must satisfy all parties

DUBAI (Reuters) - Oil producers agree they need to do whatever is necessary to restore balance to the crude market but any decision on output cuts must satisfy all parties, Kuwait's oil minister told state news agency KUNA on Tuesday.

"We agree on the need to do whatever is necessary to restore balance to the oil market and all options are open and are subject to discussion," Essam al-Marzouq told KUNA.

"But it must be an agreement that meets the satisfaction of everybody, and if necessary, it may be possible to increase the quantity that is cut, but it is too early to wade into this subject."

Reporting by Sami Aboudi, Writing by Sylvia Westall

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