Exports could add a layer to OPEC, non-OPEC accountability, tracker says

5 Oct 2017   OPEC

Monitoring oil exports may add another layer of support to the OPEC-led effort to balance an oversupplied market, a director at a vessel tracking firm said. Russian Energy Minister Alexander Novak kicked off a five-day energy conference in Moscow and St. Petersburg this week with suggestions that oil exports from members of the Organization of Petroleum Exporting Countries and non-member states may be monitored. “This is a new instrument, which has not been clearly formed yet,” he was quoted by Russian news agency Tass as saying. Russia is party to a committee monitoring overall compliance to an agreement enacted in January that was designed to drain the five-year surplus in global crude oil inventories with […]

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