Saudi OilMin Al-Falih: OPEC, non-OPEC deal compliance in March reached 145%

Reuters reports the following comments from the Saudi Arabian Energy Minister Al-Falih, as he speaks about the declining inventories and the OPEC output cuts deal compliance.

Oil inventories have steadily declined from their highs over last 15 months.

OPEC, non-OPEC output cuts deal compliance in March reached 145%.

Must attract capital in oil investments rather than target certain oil price.

Must strengthen OPEC, non-OPEC cooperation beyond current agreement.

Critical to restoring market confidence.