OPEC’s Barkindo: Too early to say if there is a need for further output cuts

Comments by OPEC secretary general, Mohammed Barkindo

OPEC
  • Premature to discuss OPEC+ decision in December
  • OPEC still to hold five technical meetings before December meeting in Vienna
  • OPEC is following progress in US-China trade talks closely
They don’t sound too committed to deeper cuts next month. As such, I think expectations will be low going into the decision so oil prices may have little to cheer about in the build up. However, a surprise decision could yet give oil a decent boost in such a case.