|12 September, 2019

No talk of deeper output cuts but Nigeria, Iraq to comply by October -Oman

The next OPEC meeting would be in December

Image used for illustrative purpose. Workers adjust the valves of oil pipes at West Qurna oilfield in Iraq's southern province of Basra . Picture taken November 28, 2010.

Image used for illustrative purpose. Workers adjust the valves of oil pipes at West Qurna oilfield in Iraq's southern province of Basra . Picture taken November 28, 2010.

REUTERS/Atef Hassan

ABU DHABI - Oman's oil minister said on Thursday producers at an OPEC+ ministerial meeting did not discuss deeper oil output cuts but that Nigeria and Iraq had promised to "fully comply" by October.

Overall compliance on OPEC+ output cuts was 136%, Mohammed bin Hamad al-Rumhy told reporters after the meeting in Abu Dhabi to monitor compliance with output cuts.

"The outlook is not very good for 2020," he said, adding there was "a kind of feeling" that cooperation between OPEC and its allies should continue.

The next OPEC meeting would be in December, he said.

Rumhy said that the supply/demand balance was stable.

(Reporting by Dahlia Nehme; editing by Jason Neely) ((Nafisa.Eltahir@thomsonreuters.com; +20 109 4966 335;))

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