At the OPEC/Non-OPEC April 20 meeting of the Joint Ministerial Monitoring Committee (JMMC), the committee reported that the producer group hit a conformity level of 149% for production cuts in March.

OPEC said the 24 cooperating producers agreed to make voluntary adjustments in total production of around 1.8 million barrels per day. On November 30, 2017, the committee extended the agreement through the end of 2018. OPEC said OECD commercial stock levels have been adjusted from a peak of 3.12 billion barrels in July 2016 to 2.83 billion barre...


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