OPEC+ agreement fulfilled by 102% in first 9 months

Baku. 24 October. REPORT.AZ/ OPEC+ agreement on cuttings in oil output fulfilled by 102% in January-September.

Report informs citing the TASS, Russian energy minister Alexander Novak told reporters.

The minister said that technical committees of OPEC and non-member oil countries presented results of the first 9 months: "As a result, agreement was fulfilled by 102%".

Novak noted that during the first 9 months excess volume in global oil reserves decreased by 180 million barrels and amounted to 160 million barrels. 

According to him, investments in oil sector have started to recover. With current dynamics, investment volume of 2014 will be reached just in 2020.