OPEC Vienna: Kuwait says OPEC strategy is working

OPEC Vienna: Kuwait says OPEC strategy is working

Dozens of headlines crossing the wires from the OPEC ministers, with the Kuwait oil minster saying that OPEC strategy is working.

Among others, Saudi oil min noted:

We will listen to what Iran brings to the table today

We support what OPEC needs to do to balance market in gentle way

Saudi has always been responsible in its actions

Key Quotes from Nigeria oil min:

Sees an open-mindedness in this meeting unlike previous meetings

Does not know what outcome of meeting will be

Iran oil min:

Without country quotas OPEC cannot control anything

Qatar oil min:

All options are open inc new crude output ceiling

Market heading towards re-balance

Fair oil price to encourage investment would need to be above $50pb