OPEC’s Barkindo: Conformity to OPEC output cut deal stood at 94% in February

Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Mohammed Barkindo, said in his keynote speech at the 3rd GCC Petroleum Media Forum held earlier on the day that the OPEC and non-OPEC compliance to the oil output cut deal stood at 94% in February.

Key Quotes:

“For the month of February, conformity to the adjustment stood at 94%, which was eight percentage points above the January figure - already, in itself, impressive” 

Barkindo thanked HE Suhail Mohamed Al Mazrouei, the UAE’s Minister of Energy, “for his skillful, persuasive and constructive engagements during the intensive negotiations” that paved the way for last year’s historic decisions, as reported by Daily Trust.