Ministers positive on Opec, non-Opec oil output cuts

Output was to be lowered by nearly 1.8 million bpd

Energy ministers from the Organisation of the Petroleum Exporting Countries (Opec) and non-Opec countries meeting in Vienna on Sunday have struck a positive note regarding their agreement to cut oil output as a committee set to monitor compliance with the deal meets for the first time.

"I am satisfied, I am optimistic and, as I said, the markets are on their way to rebalance and it's happening," Saudi energy minister Khalid al-Falih said.

Compliance with the agreement, which calls for cuts to begin this month, had been "fantastic", he said.

Kuwaiti oil minister Essam Al-Marzouq, who chairs the five-member compliance