Opec, non-Opec committed to cutting inventories to 5-yr average

MOSCOW: Saudi Energy Minister Khalid al Falih said on Wednesday Opec and non-Opec were committed to their goal of reducing global oil inventories to a five-year average, saying he saw this goal being reached in the very near future. Al Falih also said OECD oil stocks are down by 30 million barrels since the year started. Russian and Saudi energy ministers also said they saw their cooperation in oil markets lasting longer after the current joint oil output agreement expires in March next year. — Reuters