No clear sign of oil price recovery – Kuwaiti Oil Minister

FXStreet (Mumbai) - The Kuwaiti Oil Minister on the wires today stating the oil prices have bottomed out, but there is no clear sign of the recovery in prices.

Wants unity in production cuts

The Minister called for a unity in the production cuts to balance the markets. He also asked Non-OPEC producers to chip-in .

Key Quotes

Predictions on the oil recovery/balance are not accurate

Q1 2016 will be a better time to assess oil demand picture

Prices are governed by world economic growth