Opec Targets Compliance Tactics in UAE

摘要

Opec officials will gather in Abu Dhabi next week to assess the impact of the group’s production cuts on the market and ways to improve compliance, but the technical teams present will not make any policy decisions. The meeting, which was announced late last week, is at the recommendation of the Joint Ministerial Monitoring Committee (JMMC), made up of officials Opec and non-Opec member states participating in last year’s deal to remove 1.8 million b/d from the market. The JMMC met last week in St. Petersburg and reaffirmed their commitment to the agreement, despite concerns that slipping compliance and a surge in US shale were undermining the deal (IOD Jul.25’17).