The Organization of the Petroleum Exporting Countries (OPEC) and participating non-OPEC producing countries achieved the highest conformity level of 152 percent in April, OPEC announced on late Friday.
'This demonstrates the commitment of participating countries to the restoration of market stability, which is intended to serve the long term interests of producers, consumers and the global economy,' said OPEC.
The Joint OPEC and Non-OPEC Ministerial Monitoring Committee (JMMC) acknowledged the rising concerns expressed by some importing and consuming countries regarding potential shortages in the global oil market.
'The JMMC reaffirmed participating countries' commitment to the stability of the market and energy security of the global economy,' said OPEC.
The 9th Meeting of the JMMC will take place in Vienna on 21 June 2018.
OPEC stated that the next JMMC meeting would take place in Vienna, June 2018.
By Huseyin Erdogan