LONDON (Reuters) - OPEC on Friday published a list of new levels of reduction in oil output by its members and other major producers for the six months to June as part of the group's latest production-cutting deal.
It also urged participating countries to redouble efforts for supply adjustments to ensure oil markets remain in balance in 2019.
In the first half of 2019, OPEC and other major producers will cut oil output by 1.195 million barrels per day (bpd) to 43.874 million bpd.
The production adjustment will be monitored by the Joint Ministerial Monitoring Committee (JMMC) on a monthly basis, it said.
The next JMMC meeting will be held in Baku, Azerbaijan, on March 18, it added.
(Reporting by Alex Lawler; Editing by Dale Hudson)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app