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

MOSCOW. KAZINFORM 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 told TASS after the meeting in absentia of the OPEC+ technical committee.

«The percentage of fulfillment of the agreement in July is 159%,» the source said.

At the same time, 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, TASS reports.