Oil ministers from leading OPEC nations said Sunday they expect prices will arrest their recent slide and rebalance early next year, when a deal on new production cuts takes effect. Oil prices have shed more than 36 percent since early October to trade at $54 (47 euros) per barrel, due to fears of oversupply and weak global demand. “Based on available figures, we have around 26 million barrels of surplus … compared to 340 million barrels in early 2017,” Mazrouei told a press conference in Kuwait City.
