OPEC, non-OPEC compliance with supply cuts was 163% in May - sources

FILE PHOTO: The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen outside their headquarters in Vienna, Austria December 7, 2018. REUTERS/Leonhard Foeger/File Photo - Copyright Leonhard Foeger(Reuters)

By Reuters

Published on 30/06/2019 - 17:34•Updated 19/04/2024 - 14:12

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VIENNA (Reuters) - An OPEC and non-OPEC technical committee found on Sunday that oil producers' compliance with a supply-reduction agreement reached 163% in May, three sources familiar with the matter said.

The committee known as the JTC was meeting in Vienna. Oil ministers from the Organization of the Petroleum Exporting Countries gather on Monday in the Austrian capital for policy talks, followed by discussions with non-OPEC oil producers on Tuesday.

(Reporting by Alex Lawler and Rania El Gamal; Writing by Dale Hudson)

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