OPEC committee: pace of oil rebalancing quickening - BBG

According to a Bloomberg report, citing people familiar with the matter, the latest discussions of the Joint Technical Committee of OPEC and non-OPEC nations have concluded that the oil glut is dissipating at a faster pace and the market will now rebalance between Q2 and Q3.

Additional headlines:

   •  Previous discussions concluded that the rebalancing would only occur in Q3 earliest.
   •  The scenario assumes that Libya and Nigeria keep output at January levels and other participants in the deal maintain full compliance with cuts.