OPEC´s Barkindo: OPEC, non-OPEC members are on course to reach 100 percent compliance

Dhwani Mehta FXStreet

During a speech at the IHS CERA conference in New Delhi, the OPEC Secretary-General Mohammad Barkindo made some comments on the OPEC and non-OPEC compliance on the oil output policy.

Key Points:

Global spare oil capacity was shrinking.

Producers and companies should increase their production capacities and invest more to meet current demand.

Members of the OPEC and non-OPEC countries participating in a supply-reduction agreement are on course to reach 100 percent compliance.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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