Austrian policemen guard entrance to the Organization of the Petroleum Exporting Countries (OPEC) headquarters in Vienna, on September 22, 2017. / AFP / JOE KLAMAR
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OPEC and allied oil producers can draft a strategy in June to end global output cuts if the market is no longer oversupplied by then, the UAE's energy minister said. Kuwait said the cuts may end before 2019 if the market is rebalanced by June.Ministers of the Organization of the Petroleum Exporting Countries plan to meet in June to assess the market and consider halting the cuts, which they agreed last month to extend until the end of next year in a drive to drain a glut and prop up prices.OPEC and other producers including Russia may end their cuts before 2019 if the crude market is back in balance by June, Essam al-Marzooq, who was replaced Monday as Kuwait's oil minister, said Sunday in Kuwait City.
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