Headlines via Bloomberg, citing people familiar with the matter
Says that latest discussions of the Joint Technical Committee of OPEC and non-OPEC nations have concluded and that the oil glut is dissipating at a faster pace and the market will now rebalance between Q2 and Q3.
Previous discussions had the committee conclude that the rebalancing would only occur in Q3 earliest.
This scenario assumes that Libya and Nigeria keep output at January levels and other participants in the deal maintain full compliance with cuts.
Similar comments to those that were mentioned by Barkindo yesterday here.
Oil hasn't really moved much on the day with WTI trading at $62.13, and Brent trading at $65.28.
