Indonesia's governor to the Organization of the Petroleum Exporting Countries (Opec) said on Monday that oil at $45 a barrel was "not bad" and that there would be no urgency to freeze output if crude remained at that price.
Oil-producing nations will discuss an oil output freeze at Opec's meeting in June, a senior Saudi oil advisor said on Thursday, keeping open the prospect of action to boost prices despite the collapse of talks on a deal in Doha.
Iran is determined to recover its share of the world oil market following the lifting of sanctions, and can withstand low prices since it has sold oil for as little as $6 a barrel in the past, a source close to Iranian oil policy said.
Saudi Arabia demanded on Sunday that Iran join a global deal on freezing oil output, jeopardising an agreement between Opec and non-Opec producers that was supposed to help ease a glut and prop up the price of crude.
Some 18 Opec
Kuwait's oil exports have not been affected by a strike launched on Sunday by energy sector workers, oil sector spokesman Sheikh Talal Al-Khaled Al-Sabah said in a statement on state-news agency Kuna.
He was speaking after tho
A meeting between Opec and non-Opec oil producers on an agreement to freeze output ran into last-minute trouble in Qatar on Sunday due to a new request by Opec's de facto leader Saudi Arabia, sources told Reuters.
Oil prices slipped on Monday after banks dampened hopes that the result of next Sunday's meeting of producers in Qatar aimed at freezing current output levels would improve the current supply-demand balance.
Russia believes an oil price at $45-$50 per barrel is acceptable for the global oil market to balance, as it prepares to meet leading oil producers in Doha later this month, sources familiar with Russian plans said on Wednesday.
All signs suggest a meeting of oil-producing countries on April 17 will deliver an agreement to freeze output, Kuwait's Opec governor and two sources said, suggesting Iran's aim to raise supply will not scupper a deal aimed at supporting