Investing.com - Oil producers unlikely to extend output cuts beyond six months, Saudi Energy Minister Khalid al-Falih said.
OPEC and non-OPEC producers have agreed to cut output by 1.8 mn bpd in the first half of this year.
"We don't think it's necessary given the level of compliance...and given the expectations of demand," al-Falih said Monday.
"Rebalancing that started slowly in 2016 will have its full impact by the first half," he added.
"The extension will only happen if there is a need."
Al-Falih last week said he was open to extending the time frame of the agreement.