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OPEC considers it premature to deepen oil output cuts despite lower oil prices

The countries participating in the agreement are now focused on full compliance with the deal’s quotas, according to OPEC Secretary General

MOSCOW, October 7. /TASS/. OPEC considers it premature to deepen the volume of decline in oil production under OPEC+, despite falling oil prices. The countries participating in the agreement are now focused on full compliance with the deal’s quotas, OPEC Secretary General Mohammed Barkindo said in an interview with TASS during the Russian Energy Week.

"I believe it is premature at the moment taking into account that we just came out of our 16th meeting of the joint OPEC and non-OPEC ministerial monitoring committee in Abu Dhabi. We have just entered into the fourth quarter of the year and are looking forward to our end-of-year conference in December. Therefore, we will continue to focus on the full implementation of the supply adjustments," he said.