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OPEC + countries improve oil output cut deal’s compliance in February - Secretary General

March 17, 13:25 UTC+3 BAKU

Earlier, Bloomberg reported citing its sources that the deal’s compliance level in February reached 89%

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BAKU, March 17. /TASS/. Countries participating in the OPEC plus deal on cutting oil production improved its compliance in February compared with the previous month, OPEC Secretary General Mohammad Barkindo told reporters on Sunday.

According to Barkindo, there is a "remarkable" improvement on the level of compliance.

He noted that particular figures would be announced after Monday’s meeting of the ministerial monitoring committee.

On Sunday, Azerbaijan’s capital of Baku hosts a meeting of the OPEC plus Technical Committee.

Earlier, Bloomberg reported citing its sources that the deal’s compliance level in February reached 89%.

In December 2018, OPEC+ countries decided to cut production by 1.2 mln barrels per day from the level of October 2018. It is planned that OPEC nations will reduce output by 800,000 barrels per day, while the remaining countries - by 400,000 barrels. In particular, Russia will cut production by 228,000 barrels per day.

The deal covers the first half of 2019 and may be revised in April.

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