OPEC+ statement: Important for all countries to reach full conformity with output cuts
|OPEC+ is out with its statement following the conclusion of today's Joint Ministerial Monitoring Committee (JMMC) meeting.
Key Highlights:
Important for all countries to reach full conformity with output cuts.
Compliance reached 136% in August.
Non-compliant countries have pledged to achieve 100% compliance.
Next JMMC meeting will take place on 4 December.
WTI holds near weekly lows of 55.39, little changed on the OPEC+ statement, as it failed to please buyers in absence of any output cut policy revision.
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