DOHA (Reuters) - Qatar energy minister Mohammed al-Sada said on Tuesday his country would support an extension of global oil output cuts if needed.
A decision on whether to extend the cuts “will be reviewed critically and if the conference sees the benefit of an extension, Qatar will support it,” Sada told Reuters at an event in Doha, referring to a Nov. 30 OPEC meeting.
Sada said compliance with agreed production cuts totaling 1.8 million barrels per day stood at 120 percent.
“That shows how committed OPEC and non-OPEC countries are towards implementing the agreement,” he said, adding that the market was rebalancing.
Reporting by Eric Knecht; editing by Jason Neely