OPEC's oil output remains steady as the group's recent cutbacks face challenges, with OPEC+ renewing calls for better compliance. Participating countries are required to submit compensation plans for overproduced volumes by April 30, 2024. The Joint Ministerial Monitoring Committee (JMMC) is informed that compliance with output cuts needs improvement.
#OPEC+: The Committee will continue to closely assess market conditions and noted the willingness of the DoC countries to address market developments and their readiness to take additional measures at any time building on the strong cohesion between OPEC and participating… https://t.co/f851vBKGiP
#OPEC+: Participating countries with outstanding overproduced volumes for the months of January, February and March 2024 will submit their detailed compensation plans to the OPEC Secretariat by 30 April 2024. #oott https://t.co/f851vBKGiP
🔴 OPEC+ RENEWS REQUEST FOR BETTER COMPLIANCE WITH OUTPUT CUTS.
OPEC+ JMMC BEING TOLD THAT OIL-OUTPUT CUT COMPLIANCE NEEDS IMPROVEMENT - SOURCE
OPEC+ meeting tmrw #oott $uso $uco $bno $oxy $dvn https://t.co/Jhi0tlkCHR
OPEC+ meeting tmrw https://t.co/NlFr8HUDFC
🔴 OPEC OIL OUTPUT STEADY AS GROUP’S LATEST CUTBACKS STALL - SURVEY.