CAIRO Dec 22 An OPEC committee responsible for
monitoring compliance with a global agreement to reduce oil
output will meet in the first half of January, Kuwait's oil
minister said on Thursday.
"We will meet... in January with OPEC and non-OPEC countries
and we will coordinate over the method in which (compliance
with) the cut will be implemented," Essam Abdul Mohsen
Al-Marzouq told reporters on the sidelines of a meeting of the
Organization of Arab Petroleum Exporting Countries (OAPEC) in
"I personally think that the announcements coming from Saudi
Arabia, the United Arab Emirates, Qatar, Kuwait, Iraq, and
Russia are all encouraging signs that they will abide by the cut
and hopefully other countries will follow suit."
Marzouq later clarified that the meeting would take place in
the "beginning" or "first half" of January.
The Organization of the Petroleum Exporting Countries and
non-OPEC producers on Dec. 10 reached their first deal since
2001 to curtail oil output jointly and ease a global glut after
more than two years of low prices.
OPEC has a long history of cheating on output quotas. The
fact that Nigeria and Libya were exempt from the deal due to
production-denting civil strife will further pressure OPEC
leader Saudi Arabia to shoulder the bulk of supply reductions.
(Reporting by Amina Ismail; Writing by Ahmed Aboulenein;
Editing by Alexandra Hudson)