OPEC and partners deliver 109 percent of pledged oil cuts in July: statement

August 30, 2018

(Reuters) – OPEC and its partners delivered 109 percent of plegded oil supply curbs in July, OPEC said in a statement on Thursday, confirming figures reported on Monday by Reuters.

The OPEC and non-OPEC JMMC committe expressed its satisfaction with recent oil market fundamentals showing a good balance between supply and demand, considering seasonal factors, the statement said.

The next meeting of the JMMC on Sept. 23 in Algeria will review the plan for monitoring market fundamentals and conformity for the rest of 2018, as well as the framework of cooperation to be established in 2019 and beyond.

(Reporting by Alex Lawler; Editing by David Goodman)

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August 30, 2018 at 06:11PM
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