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| 21 August, 2017

OPEC to discuss ending or extending production cut in November -Kuwait minister

Image used for illustrative purpose.
The OPEC flag and the OPEC logo are seen before a news conference in Vienna, Austria, October 24, 2016.

Image used for illustrative purpose. The OPEC flag and the OPEC logo are seen before a news conference in Vienna, Austria, October 24, 2016.

REUTERS/Leonhard Foeger

Oil inventories in recent weeks fell more than expected

CAIRO, Aug 22 (Reuters) - OPEC will discuss at a meeting in November whether to extend or end production cuts, Kuwait's oil minister Essam al-Marzouq told Kuwait TV on Monday.

"At our next meeting at the end of November...the most important items will concern the fate of the agreement to extend or terminate the production cut," Marzouq told Kuwait TV in an interview.

He said oil inventories in recent weeks fell more than expected and that one-week forecasts were two million barrels a day, down from 6.5 million.

(Reporting by Ali Abdelaty; Writing by Tom Finn; editing by Diane Craft) ((tom.finn@tr.com; +974 40206682 tomfinn2; Reuters Messaging: @))