Riyadh – Mubasher: The Organization of the Petroleum Exporting Countries’ (OPEC) members and allies, including Russia, are on the verge of reaching a 100% compliance to the production levels which all parties previously agreed to, Saudi Arabian Energy Minister Khalid al-Falih said.
The countries moved close to this level in July, while August output saw a drop due to maintenance in oil industry in Kazakhstan, Al-Falih added, according to Saudi Press Agency (SPA).
The Saudi minister further noted that oil market is currently stable on the sidelines of OPEC ministers and allies in Algiers to discuss the situation in oil markets.
On Sunday, Al Falih stated that he didn't influence oil prices, commenting on US President Donald Trump's call for OPEC to slash fuel cost.
