Oil producers cut July output by 9 percent more than agreed - OPEC+ committee

FILE PHOTO: The logo of the Organization of the Petroleum Exporting Countries is seen at OPEC's headquarters in Vienna, Austria June 19, 2018. REUTERS/Leonhard Foeger/File Photo - Copyright Leonhard Foeger(Reuters)

By Reuters

Published on 27/08/2018 - 15:34•Updated 27/04/2024 - 06:28

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(Reuters) - An OPEC and non-OPEC monitoring committee found that oil producers participating in a supply-reduction agreement cut output in July by 9 percent more than called for in their pact, two sources familiar with the matter said on Monday.

The committee groups representatives from Saudi Arabia, Russia, the United Arab Emirates, Kuwait, Algeria, Venezuela and Oman.

(Reporting by Rania El Gamal and Alex Lawler, writing by Ahmad Ghaddar; Editing by Dale Hudson)

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