OPEC will strive to maintain the stability of oil market in 2020
OPEC and its allies are committed to maintaining stability in the oil market after 2020, and the global oil spot supply is relatively tight, OPEC Secretary General Mohammad barkindo said on Tuesday. He also said that OPEC and its allies have implemented 136% of the reduction agreement, which has curbed global supply, while North American production growth, including the US shale basin, is slowing. "[OPEC +", OPEC, Russia and other oil producing allies, have committed to reduce production by 1.2 million barrels per day by March 2020 to support oil prices. Oil producing countries will meet again from 5 to 6 December.
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