Oil output cuts may be eased sometime in 2019 - Saudi's Al-Falih

Bloomberg report quotes Saudi Arabia’s oil minister Khalid Al-Falih as saying that the production curbs may be eased “sometime in 2019, but we don’t know when and we don’t know how,”

While speaking to reporters in New Delhi, Al-Falih stressed that cartel will ensure that it (unwinding of output cut strategy) will not in any way disturb the balance and undo the hard work since 2016.

Key quotes

"The framework beyond 2018 is yet to be determined, but for sure from the Saudi and from the OPEC standpoint, there is a determination to translate the success of 2017 and 2018, partial as it may be, into a lasting framework that allows us to avoid instability in the oil markets"