AFP, KUWAIT CITY: The compliance of OPEC and independent producers with oil output cuts in force since January reached an unprecedented level of 122 per cent last month, Kuwait’s oil minister said Wednesday.

“I am pleased to announce that November conformity is the highest since the beginning of implementation of the agreement in January. It has reached 122 per cent,” said Bakheet al-Rasheedi, quoted by the official news agency KUNA.

“This is a strong signal to the oil market that OPEC and non-OPEC members participating are committed to the success of this agreement and are willing to do everything possible to restore the oil market balance.”