The OPEC/non-OPEC deal monitoring committee met in Vienna today 22 Jan
Saudi energy minister Khalid al-Falih said earlier today after the first meeting:
"I am satisfied, I am optimistic and, as I said, the markets are on their way to rebalance and it's happening,"
adding that compliance with the agreement, which calls for cuts to begin this month, had been "fantastic".
"Usually non-OPEC would raise their production to compensate for voluntary cuts by OPEC. Now, we are seeing voluntary cuts by both sides,"
Some 1.5 million bpd in crude production had already been taken out of the market last week he said.
"The other 300,000 bpd, for all I know, is still happening," saying that he hoped for 100% compliance in February.
The next meeting was scheduled for after 17 March they also announced today.
More from Reuters here
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El-Falih Oil rebalancing on its way he says
