22 Nov 2024
Monday 24 September 2018 - 11:38
Story Code : 320580

No production increase discussed at JMMC meeting

No production increase discussed at JMMC meeting



SHANA - Irans OPEC Governor Hussein Kazempour Ardebily said no production increase was discussed during Sundays meeting of the Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC) in Algiers.






Ardebily who represented Iran in the meeting told Shana that the compliance of OPEC and non-OPEC signatories of the OPEC output cut deal was announced at 118% and 119%, respectively, during the meeting.
The member countries present in the meeting emphasized 100 percent compliance to the OPEC-Non-OPEC agreement, he said.
In 2016, OPEC and non-OPEC crude oil producers including Russia struck a historic agreement to curb their overall production by 1.8 million barrels per day by December 2018.

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