Saudi, Russian Energy Ministers talking about raising output limits in June

Saudi Arabia's Khalid A. Al-Falih and Russia's Alexander Novak, their respective countries' Energy Ministers, have spoken with Bloomberg on Thursday about easing output limits beginning in June.

Key highlights

Output caps will definitely be discussed in June.

The aim is for market balance, not an over-correction.

Russia and Saudi Arabia have at least two more meetings slated before June.

No final decision has been made; easing output caps is on the table, only as discussion for now.