Top oil exporter Saudi Arabia will only cut output if a broad group of crude-producing nations agrees to do so as well, and that outcome is unlikely, Again Capital founding partner John Kilduff said Thursday.
"I think the Saudis are saying, if you all want to join in with us, we'll do it, but that's an impossibility," Kilduff told CNBC's "Squawk Box."
Oil prices rose Thursday on reports that Saudi Arabia had agreed to cut production by up to 1 million barrels a day if non-OPEC members Russia, Mexico, Oman and Kazakhstan commit to also reduce output.
OPEC members are meeting in Vienna for an annual gathering, where they will announce whether they will continue a policy of maintaining crude output at high levels. Saudi Arabia led that policy at last year's meeting, reversing its long-standing strategy of reducing output during oil price declines.