OPEC-Non-OPEC Technical Committee Worried About Oil Market Conditions - Algerian Delegate

OPEC-Non-OPEC Technical Committee Worried About Oil Market Conditions - Algerian Delegate

The Technical Committee of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries is alarmed by the current state of affairs in the energy market, Achraf Benhassine, the Algerian national representative in OPEC, said on Saturday.

ABU DHABI (UrduPoint News / Sputnik - 10th November, 2018) The Technical Committee of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries is alarmed by the current state of affairs in the energy market, Achraf Benhassine, the Algerian national representative in OPEC, said on Saturday.

"We are worried about the situation in the [oil] market, global economy and the demand and the supply," the Algerian delegate told reporters on the results of the meeting of the OPEC-non-OPEC technical committee in Abu Dhabi, which is responsible for overlooking the Vienna deal on the oil production cuts and giving its recommendations for the oil producers.

The delegate went on to say that the level of compliance of the Vienna deal signatories on oil output reduction in October was preliminary estimated to stand at over 100 percent.

"It's around 104 percent. This is preliminary, because we don't have the 6th source, we are missing one," the Algerian delegate told reporters, when asked about the conformity level of OPEC and non-OPEC countries with production cuts in October.

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