OPEC's Barkindo: Compliance Very High in First Six Months

The transcript discusses a historic agreement between OPEC and non-OPEC countries to limit oil production, aiming for high compliance to stabilize the market. A Joint Ministerial Monitoring Committee was established to oversee compliance, with expectations of high commitment from participating countries. Despite challenges, the agreement is flexible and aims to significantly reduce oil stocks over six months, moving towards market rebalancing.

What challenges were anticipated in achieving compliance during the first six months?

What impact was expected on oil stocks due to the agreement over the next six months?