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12/5/2019, 4:12 PM (Source: TeleTrader)
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JMMC recommends 500K in Q1 at OPEC meeting

The Joint Ministerial Monitoring Committee recommended a 500,000 barrels per day additional cut in the first quarter at the meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allied producers in Vienna.

Russian Energy Minister Alexander Novak said that the distribution of the output cuts has not yet been discussed.

The committee responsible for overseeing compliance with the OPEC+ deal also made a recommendation that the cuts run until the end of next year.

Breaking the News / JC