Investing.com - Saudi Arabia's disavowal of a need for OPEC to cut output may or may not be a bluff.
Saudi Energy Minister Khalid al-Falih said Sunday OPEC interventions may not be needed to stabilize prices in 2017.
Al-Falih's remarks may be face-saving ahead of OPEC meeting Wednesday if Iran, Iraq refuse to play ball on cuts.
OPEC reached a tentative agreement in Algeria in September to cut output to 32-5-33 million b/d.
But despite skepticism about a rundown in the global glut next year, Al-Falih's remarks could be taken at face value.
Nigeria, Libya's ability to restore full output in doubt while future of Maduro presidency in Venezuela also questioned.
Demand for oil could also rise as OECD Monday raised its global growth forecast to 3.3% from 3.2%.