OPEC estimates Vienna deal July performance at 94%
The OPEC/non-OPEC Joint Technical Committe (OPEC +) estimated the deal on cutting oil output as complete by 94% in July vs. 98% a month earlier.
According by Bloomberg, the meeting of the OPEC + technical committee took place in Vienna yesterday.
At the July meeting of the OPEC + ministerial monitoring committee, it was noted that the agreement performance by OPEC+ states made 98% both by results of the first half of the year and in June.
In late 2016, OPEC and several non-OPEC states agreed in Vienna to cut their daily oil output by a total of 1.8 mln barrels from October level. The agreement was concluded for the first half of 2017. In May, its validity was extended to nine months – until the end of March 2018.