Saudi OilMin sees a ‘moderate and reasonable’ OPEC agreement being reached next week

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Saudi Arabia’s Oil Minister Al-Falih is on the wires now, via Reuters, speaking ahead of the FIFA World Cup match between Russia and Saudi in Russia.

Key Points:

Sees a ‘moderate and reasonable’ OPEC agreement being reached.

Expects OPEC agreement to satisfy the oil market.

Doesn’t expect disputes with Iran and Venezuela.

Heard a proposal to increase oil output by 1.8 mil bpd from different sources.

It is inevitable that agreement will be a gradual increase of oil output.

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