Data indicate high compliance with oil cuts in January — OPEC’s Barkindo

Riyadh: Opec Secretary-General Mohammad Barkindo said on Wednesday that data pointed to high compliance of oil producers in January with their deal to cut output.

Speaking in Riyadh at an industry conference alongside Saudi Arabia’s Energy Minister Khalid Al Falih and Russian Energy Minister Alexander Novak, Barkindo also said oil demand growth in 2018 was seen at healthy levels.

Russia and Saudi Arabia, the world’s top oil producers, are leading a global oil cut deal between Opec and some non-OPEC members. The current deal runs through to March 2018.