OPEC+ Conformity With Oil Cuts At 114% In April, Including Mexico - Saudi Energy Minister

MOSCOW (Pakistan Point News / Sputnik - 01st June, 2021) The conformity of OPEC+ countries with their obligations to limit oil production reached 114 percent in April, but overproduction in a number of countries remains and they need to compensate for it, Saudi Energi Minister Prince Abdulaziz bin Salman bin Abdulaziz Al Saud said on Tuesday.

"Again, OPEC+ participants have shown discipline and in a dealing to the compliance targets we have set ourselves with a 114 percent conformity in April � that is including Mexico," the minister said.

He strongly urged the overproducing countries to stick to the agreement by compensating for that in the future.

He also noted that the mechanism for compensating for overproduction of oil in OPEC+ had been extended until the end of September.