OPEC’s Barkindo: Aim to achieve higher compliance level than Jan’s 90% - RTRS

OPEC Secretary General Mohammad Barkindo is on the wires now, via Reuters, speaking at International Petroleum (IP) conference hosted by the Energy Institute in London.

Key Headlines:              

Members aiming to achieve higher compliance level than Jan’s 90%

Expect to see further drops in OPEC oil inventories in 2017

Will continue to focus on bringing OECD oil inventories closer to the 5 year industry average

Both crude benchmarks are accelerating to the upside following Barkindo’s comments, and trade at multi-week highs, each +1.60% higher.