Oil exporters fulfilled 86% of output deal

Baku. 24 February. REPORT.AZ/ OPEC and non-member countries fulfilled 86% of output cut deal agreed in Vienna, November 30, 2016.

Report informs referring to Forexpf.ru, nformation is provided in January report of the Commission established by joint technical committee for monitoring of agreement results.

The report indicates 94% fulfilment of obligations by OPEC, 66% by other countries. Notably, experts from Kuwait, Algeria, Venezuela, Oman and Russia are included in the Monitoring Commission.

According to agreement, oil exporting countries have to cut daily output by 1.76 mln barrels. Part of non-OPEC countries amount 558 barrel or 31.8% of overall obligations. Thus, overall output cut in January was fulfilled at 1.51 million barrel/day.