OPEC+ countries reduce oil output by 159% in July - source

 OPEC+ countries reduce oil output by 159% in July - source

OPEC+ countries participating in the Vienna Agreement on the reduction of oil production fulfilled the terms of the agreement by 159% in July 2019, a source said after the meeting in absentia of the OPEC+ technical committee.

"The percentage of fulfillment of the agreement in July is 159%," TASS cited the source as saying.

The source added that OPEC countries complied with an agreement to reduce production by 156%, and non-OPEC countries by 166%, the source added. Thus, in July the agreement countries reduced production against October 2018, taken as the base level, by 1.9 mln barrels per day instead of the planned 1.2 mln barrels per day.

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