BAKU (Reuters) - OPEC Secretary General Mohammad Barkindo said on Sunday that compliance with a supply cut agreement between OPEC and non-OPEC members was improving, and that this would help the oil market to weather through the build up of oil inventories.
“There is a remarkable improvement on the level of compliance,” Barkindo said.
“The market will weather through a possible rebuild of inventories, which is our focus of attention, and ensure that we have supply-demand balance through the quarters,” he added.
“We are super focused on this common objective.”
Reporting by Rania El Gamal and Vladimir Soldatkin; Writing by Polina Ivanova; Editing by Emelia Sithole-Matarise