{"id":1297,"date":"2017-10-24T15:36:24","date_gmt":"2017-10-24T15:36:24","guid":{"rendered":"http:\/\/madaresharghi.com\/opec-allies-keep-options-open-to-rebalance-markets\/"},"modified":"2017-10-24T15:36:24","modified_gmt":"2017-10-24T15:36:24","slug":"opec-allies-keep-options-open-to-rebalance-markets","status":"publish","type":"post","link":"https:\/\/madaresharghi.ir\/en\/opec-allies-keep-options-open-to-rebalance-markets\/","title":{"rendered":"OPEC, Allies Keep Options Open to Rebalance Markets"},"content":{"rendered":"<p><a href=\"http:\/\/madaresharghi..com\">madaresharghi<\/a><br \/>\n<\/p>\n<p> \tOPEC and its non-OPEC allies reiterated that all options to rebalance the oil market \u201care left open\u201d, as the producers announced the highest level of compliance with their agreement to curtail production.<br \/> \tThe joint ministerial monitoring committee responsible for the agreement said on Saturday that producing countries achieved a record-high conformity level on their voluntary production adjustments at 120% in September, according to a statement on the website of the Organization of Petroleum Exporting Countries, Bloomberg reported.<br \/> \t\u201cThe JMMC will continue to monitor other factors in the oil market and their influence on the ongoing market rebalancing process,\u201d it said. \u201cAll options are left open to ensure that every effort is made to rebalance the market for the benefit of all.\u201d<br \/> \tThe 24 oil-producing nations that agreed in December to cut 1.8 million barrels a day of their production, initially for a six-month period, have already extended their deal once\u2014by nine months until the end of March 2018\u2014in an effort to lower crude inventories.<br \/> \tThe JMMC said in the statement that commercial oil stocks in the OECD countries fell further in September and now stand at 159 million barrels above their latest five-year average. The stocks have been reduced by 178 million barrels since the beginning of this year, JMMC said.<br \/> \tOPEC and its allies are scheduled to meet in Vienna on November 30, while JMMC said in the statement its next meeting is scheduled for the preceding day. Saudi Oil Minister Khalid al-Falih said on Saturday the global oil market is improving and stabilizing as oil exporting nations are fully complying with an agreement to curb supply in order to lift crude prices. Falih did not say whether he would recommend that curbs be extended further when OPEC meets next month.<br \/> \t&#8220;The market has improved a lot but has still some way to go,\u201d Falih told reporters during a visit to the Iraqi capital, adding that \u201ccompliance within the group of 24\u201d nations taking part in the cutbacks deal \u201cexceeds 100%&#8221;.<\/p>\n<p> \t\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>madaresharghi OPEC and its non-OPEC allies reiterated that all options to rebalance the oil market \u201care left open\u201d, as the producers announced the highest level of compliance with their agreement to curtail production. The joint ministerial monitoring committee responsible for the agreement said on Saturday that producing countries achieved a record-high conformity level on their [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,8],"tags":[639],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>OPEC, Allies Keep Options Open to Rebalance Markets - madaresharghi | An Analytical Look at Middle Eastern Developments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/madaresharghi.ir\/en\/opec-allies-keep-options-open-to-rebalance-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OPEC, Allies Keep Options Open to Rebalance Markets - madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"og:description\" content=\"madaresharghi OPEC and its non-OPEC allies reiterated that all options to rebalance the oil market \u201care left open\u201d, as the producers announced the highest level of compliance with their agreement to curtail production. 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