OpeOluwani Akintayo
31 August 2018, Sweetcrude, Lagos — The Organization of the Petroleum Exporting Countries, OPEC, said its members and non-OPEC partners involved in the out cut agreement, have delivered 109 percent of its promised oil supply cuts in July.
OPEC and non-OPEC JMMC committee in a statement reported by Reuters on Thursday 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.