OPEC, allies cooperation charter likely in June: Al Mazrouei

OPEC is expected to finalize the long-term cooperation charter with its non-OPEC partners in June, UAE Energy Minister Suhail Al Mazrouei said on Wednesday.

The UAE is committed to delivering 100 percent of oil supply cuts in the coming months, he said a conference in Abu Dhabi.

OPEC+ achieved over 90 percent compliance with supply cuts in February, the Joint Ministerial Monitoring Committee (JMMC) said in a statement last week.

Saudi Arabia’s Energy Minister Khalid Al-Falih had expressed optimism earlier on the continued commitment to the supply cut agreement between OPEC and non-OPEC members.