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OPEC likely to leave output unchanged and boost compliance with cuts.

Summary: Organization of the Petroleum Exporting Countries (OPEC)'s markets monitoring committee recommended Tuesday the cartel's members, staled to meet Wednesday evening in Vienna in an ordinary session, to keep unchanged their output quotas and boost better compliance with them.

Organization of the Petroleum Exporting Countries (OPEC)'s markets monitoring committee recommended Tuesday the cartel's members, staled to meet Wednesday evening in Vienna in an ordinary session, to keep unchanged their output quotas and boost better compliance with them. "We recommend no change" in the level of output, declared Kuwaiti Oil Minister Sheikh Ahmad Abdullah al-Sabah, who was taking part alongside ministers of Nigeria and Iran, and OPEC SG Abdullah al-Badri, in the market monitoring committee. "We need better compliance" with earlier cuts, the minister underlined, noting that it are currently respected at 68% by the member states. A rate of "75% would be better," the minister said.AaAaAa

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Publication:UMCI News (Potomac Falls, VA)
Geographic Code:0OPEC
Date:Sep 10, 2009
Words:160
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