OPEC's compliance with supply cut deal improving, says Barkindo

OPEC Secretary General Mohammad Barkindo said compliance with a supply cut agreement with non-OPEC members was improving, and that this would help the oil market to weather through the buildup of oil inventories, Reuters reported.

"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. We are super focused on this common objective," he added.