September 21, 2017 / 11:59 AM / a year ago

Compliance with oil output reduction pact 'very good': Kuwait

VIENNA (Reuters) - Kuwaiti Oil Minister Essam al-Marzouq said on Thursday that compliance with OPEC-led oil output cuts was “very good” and above 100 percent.

Kuwaiti Oil Minister Essam al-Marzouq adjusts his glasses during a news conference of the 4th OPEC-Non-OPEC Ministerial Monitoring Commettee in St. Petersburg, Russia, July 24, 2017. REUTERS/Anton Vaganov/Files

“It is very good, better than last month,” he said.

He also said that oil ministers were not yet discussing extending a deal which currently calls for producers to reduce output by 1.8 million barrels per day until March 2018.

Reporting by Alex Lawler; editing by Jason Neely

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