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Saudi Energy Minister Khalid Al-Falih is now out on the wires, reiterating his earlier comments about staying confident that 100% compliance with the output cut agreement will continue for the next four months.  

Key quotes (via Reuters)

  • JMMC meeting’s date to be announced in 2 weeks time.
  • OPEC+ needs a few months to drain excess inventory.
  • OPEC+ JMMC most likely to meet in first half of May.
  • Next OPEC+ meeting on June 25-26 in Vienna.