Opec and non-Opec representatives at the IHS CeraWeek conference in Houston took advantage of the gathering to touch base with each other on the progress of their joint supply curbs, with Saudi Energy Minister Khalid al-Falih insisting that “the cuts are biting." In a press conference late Tuesday, officials including al-Falih and his counterpart from non-Opec Russia, Alexander Novak, said they were satisfied with the results so far from December’s Opec/non-Opec deal to take around 1.8 million barrels per day out of the market in an effort to bring fundamentals back into balance.
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