Oil production to further decrease in coming months

Baku. 13 February. REPORT.AZ/ Compliance with a global supply cut deal by OPEC and non-OPEC oil producers has been high in January and that level of commitment is expected to improve over the next months.

Report informs citing TASS, the United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui told Reuters.

The minister noted according to reports of independent sources that the commitment was highly complied with in January: "The level of commitment is high and we are expecting to see more commitments in the months to come".

Notably, according to the International Energy Agency (IEA), in January, OPEC countries cut daily oil production by 1 mln barrel and showed 90% compliance with the deal.