PREVIEW: OPEC/non-OPEC Joint Ministerial Monitoring Committee Meeting, Friday 22nd September 2017
The Organisation of the Petroleum Exporting Countries (OPEC) has capped its joint output at 32.5mln bpd since 1st January 2017, representing a 1.2mln bpd reduction from the October 2016 (chosen benchmark) levels (except for Angola for which September 2016 is used). Some non-OPEC producers also joined the pact, the most notable being Russia, bringing the total pledged production cut up to 1.8mln bpd. The current OPEC/non-OPEC production deal is set to expire in March 2018.
The Joint Monitoring Committee comprises of OPEC members Algeria, Kuwait and Venezuela, and non-OPEC members Russia and Oman.
The producers will be discussing scenarios to be considered at future meetings and monitoring compliance.
Full Preview Available Here
22 Sep 2017 - 07:58- - Source: RANsquawk
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