Oil Producers Need `Sustained Price Signal' Before Output Boost
- U.S. Energy Secretary sees oil market rebalancing in a year
- U.S. oil production has slipped to lowest since October 2014
Energy Sec. Moniz: U.S. to Be Major LNG Market Player
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The current oil price rally will only lure global producers into boosting output if it appears to be sustainable, according to the U.S. Secretary of Energy.
"We have had the move up in prices recently, but I don’t think the capital investment decisions are going to be influenced until people are convinced there is a much more sustained increase,” Ernest Moniz said in an interview on Tuesday in Tokyo.