Mohamed Barkindo, Secretary General of OPEC, made the following statement:
- OPEC will monitor and assess market conditions, particularly the impact of market rebalancing.
- Joint tech committee will continue to meet during 2018 to assess the data.
- The partnership between OPEC and non-OECD countries is working well.
- We remain cautiously optimistic about that inventories will come at a 5-year average.
- Members' compliance with production cuts was above 100% in February and reached higher levels in March.
- We should look beyond rebalancing, and the partnership between OPEC and non-member states should continue.
- The options remain open for non-OPEC members to join and consultations are underway.
