March 21, 2018 / 12:54 PM / a month ago

OPEC, non-OPEC panel sees compliance at new high in February - sources

LONDON (Reuters) - A joint OPEC and non-OPEC technical committee estimates that compliance by OPEC and other producing countries with pledged oil output cuts in February hit a new high, two sources familiar with the matter said on Wednesday.

The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured on the wall of the new OPEC headquarters in Vienna March 16, 2010. REUTERS/Heinz-Peter Bader/Files

Compliance rose in February from January’s rate, the sources said. Adherence in January was initially reported as 133 percent, the highest since an OPEC and non-OPEC deal to cut supply began in January 2017.

The committee met at OPEC’s Vienna headquarters on Monday.

Reporting by Alex Lawler, editing by Louise Heavens

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below