OPEC secures output compliance pledges from 4 producers

by Dramelin 4:30 AM 0 comments

DUBAI, United Arab Emirates - OPEC says a technical committee secured commitments from four oil producing countries to work to bring their production in line with previously agreed output targets.
The organization said in a statement late Tuesday that the United Arab Emirates, Iraq, Kazakhstan and Malaysia agreed to fully cooperate with committees charged with monitoring adherence to production targets with the aim of reaching “full conformity.
” The statement followed closed door talks with the countries and the technical committee that’s ended Tuesday in the Emirati capital of Abu Dhabi.
It did not specify how or when the countries might be required to adhere to targets agreed to by OPEC and other major producers outside the bloc.
More: Oil prices bear market? Analysts ask if $43 a barrel is the `new normal` Read or Share this story: https://usat.
ly/2wGC4Xc.