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Russia, Iraq, Kazakhstan achieve full conformity with OPEC+ agreements in September — OPEC

The final assessments of September crude oil production levels will be based on the approved secondary sources, which will be available by the second week of October 2024, the statement said

MOSCOW, October 2. /TASS/. Iraq, Kazakhstan and Russia confirmed during the meeting of the OPEC+ Ministerial Monitoring Committee that they had achieved full conformity and compensation according to the schedules submitted for September, OPEC said in a statement.

Those three countries also reiterated their strong commitment to maintaining full conformity and compensation throughout the remaining period of the agreement, the oil cartel added. Separate technical workshops were held with representatives of Iraq, Kazakhstan and Russia focused on discussing the output level in September, as well as revised compensation plans, which include the August overproduction, were submitted, the OPEC+ ministerial monitoring committee noted.

The final assessments of September crude oil production levels will be based on the approved secondary sources, which will be available by the second week of October 2024, OPEC said.

The OPEC+ ministerial monitoring committee also emphasized the critical importance of achieving full conformity and compensation, OPEC stressed, adding that it would continue to monitor adherence to the production adjustments agreed upon on June 2, 2024, as well as the additional voluntary production adjustments. Furthermore, the committee will continuously assess market conditions.

The next meeting of the OPEC+ ministerial monitoring committee is scheduled for December 1, 2024.

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