During a speech at the IHS CERA conference in New Delhi, the OPEC Secretary-General Mohammad Barkindo made some comments on the OPEC and non-OPEC compliance on the oil output policy.
Key Points:
Global spare oil capacity was shrinking.
Producers and companies should increase their production capacities and invest more to meet current demand.
Members of the OPEC and non-OPEC countries participating in a supply-reduction agreement are on course to reach 100 percent compliance.
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