OPEC said its “committee will continue to monitor” countries’ conformity with output decisions
OPEC+ nations are engaged in production cuts to balance prices in crude markets
Forecasters predict OPEC+ to keep output steady due to demand in China, and the current curbs, should rapidly deplete world inventories
Crude is on course to gain in October following a run of four monthly declines
It’s the biggest reduction by the Organization of Petroleum Exporting Countries and its allies since 2020
OPEC said on Tuesday that it expects global fuel consumption to fully recover from its pandemic slump by 2023
The Organization of Petroleum Exporting Countries and allies including Russia are to meet on November 30-December 1 to review policy on production
Riyadh’s struggle to enforce compliance has been a long-running issue