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OPEC reviews secondary sources

OPEC reviews secondary sources
The Organization of Petroleum Exporting Countries is discussing the possibility of replacing some secondary sources used to assess the output compliance of its members.

The Organization of Petroleum Exporting Countries is discussing the possibility of replacing some secondary sources used to assess the output compliance of its members.

The Organization of Petroleum Exporting Countries is discussing the possibility of replacing some secondary sources used to assess the output compliance of its members, Iran's OPEC governor said Tuesday. Some OPEC members, including Iran, have blamed secondary information sources for saying they weren't complying with agreed cuts and said their information was incorrect.

"We (OPEC) are discussing, we are evaluating the performance of secondary sources," Muhammad Ali Khatibi told Dow Jones Newswires. "If their performance is poor, we will have to replace them."

On March 15 OPEC decided to focus on compliance to existing production cuts, instead of opting for a new reduction. The group said some members had yet to fully enforce their quotas, with about 20% left to cut, based on secondary sources.

www.TurkishMaritime.com.tr

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