Qatar OilMin: ‘An extension of the agreement will help us in stabilizing the market’

Following the comments from the Venezuelan Oil Minister Eulogio Del Pino, citing that oil market has found some balance as inventories decline, Qatar Oil Minister Mohammed al-Sada also reiterated the same on the sidelines of a gas exporter meeting in Santa Cruz, Bolivia, on Wednesday.

As-Sada added, “in my view, an extension of the agreement will help us in stabilizing the market.”

Both Qatar and Venezuela are members of the OPEC cartel. All the OPEC members will meet next week on Nov. 30 in Vienna to discuss the oil output cuts extension beyond March 2018.