Egypt signals willingness to join OPEC oil cuts, Kuwait’s Oil Minister says

Turkmenistan, Norway, and Egypt have all signaled willingness to join OPEC members in cutting their production of oil, Kuwait's Oil Minister Essam Al Marzouq said, according to Reuters. Norway’s oil ministry was quick to deny any plans to cut output. Al Marzouq said OPEC are discussing “whether to extend output cuts for six months or nine months, because not all [members] were on board for nine.” However, he said that deeper cuts were not being considered. The meeting comes as US President Donald Trump made remarks suggesting the US is considering selling half of the country’s strategic reserve to help balance the books, according to the Financial Times.