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OPEC panel likely to address export monitoring, oil output pact extension

OPEC officials have said exports have become a key metric tracked by the market

Reuters  |  Vienna 

OPEC and other oil producers meeting on Friday will consider extending their pact to cut oil output beyond March and will discuss monitoring exports to assess compliance with the deal. The Organization of the Petroleum Exporting Countries, Russia and several other non-OPEC producers aim to clear a global oil supply glut by curbing output by about 1.8 million barrels per day (bpd). The pact runs through the end of March 2018. Ministers on a panel monitoring the deal, which comprises Kuwait, Venezuela and Algeria, plus non-OPEC Russia and Oman, are meeting in Vienna. The meeting, ...

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First Published: Fri, September 22 2017. 16:18 IST