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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