OPEC, Non-OPEC'S Compliance With Oil Output Cuts Totals 109% in July - Press Release
Conformity of the Organization of the Petroleum Exporting Countries (OPEC) and non-cartel producers with the Vienna oil output cuts deal amounted to 109 percent in July
MOSCOW (Pakistan Point News / Sputnik - 30th August, 2018) Conformity of the Organization of the Petroleum Exporting Countries (OPEC) and non-cartel producers with the Vienna oil output cuts deal amounted to 109 percent in July, compared to 121 percent in June, the Joint Ministerial Monitoring Committee (JMMC) said on Thursday in a press release.
"The JMMC noted that countries participating in the "Declaration of Cooperation" have achieved a conformity level of 109% in July 2018, which shows significant progress towards the goal set at the 4th OPEC and Non-OPEC Ministerial Meeting of 23 June 2018, which followed and endorsed decisions taken at the 174th Meeting of the OPEC Conference convened on 22 June 2018," the press release read.