OPEC+ countries complete transaction 122% in November

Baku. 22 December. REPORT.AZ/ OPEC+ countries in November completed the transaction for reduction of oil production by 122%.

Report informs citing the Interfax, says a message of OPEC following the meeting of the technical monitoring Committee (JMMC).

OPEC notes that such indicators in November are unambiguous demonstration of a strong commitment of participating countries further work to achieve the objectives of the balancing market.

Notably, agreement providing for a reduction in OPEC oil production by 1.2 million barrels per day (b/C) and countries non-OPEC - on 558 thousand b/d compared to October 2016, came into effect on 1 January 2017. The countries agreed to extend the contract in November - until the end of 2018.