IEA: Non-OPEC countries fulfill commitment by 151% thanks to Azerbaijan, Kazakhstan and Oman

Output cuts from Kazakhstan, Azerbaijan and Oman led to non-OPEC countries to fulfill the commitment by 151%, Report informs citing IEA.

Azerbaijan cut the output by 120,000 barrels in April to 680,000 barrels. So Azerbaijan has fulfilled its commitment to cut output by 20,000 barrels, that is by 565%.

Kazakhstan reduced daily output by 240,000 barrels to 1.8 million barrels. So Kazakhstan fulfilled the obligation (40,000 tonnes cut) by 600%.

Oman produced 1.97 million barrels per day and fulfilled the commitment by 115%, a 30,000 tonnes cut daily.

Russia cut output by 190,000 barrels instead of 230,000 and fulfilled the obligation by 80%.