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PENN WEST PETROLEUM LTD. T.PWT

"Penn West Petroleum, based in Calgary, Alberta, is an independent Canadian energy company focused on the exploration and production of oil and natural gas resources in Saskatchewan, Alberta, and British Columbia. At the end of 2015, the company reported proven reserves before royalties of 208 million barrels of oil equivalent. Daily production averaged 86,000 barrels of oil equivalent in 2015, at a ratio of 69% oil/31% gas."


TSX:PWT - Post by User

Post by makedonkaon Jun 20, 2017 11:55am
84 Views
Post# 26382744

compliance with oil output cuts in May hits 106 percent

compliance with oil output cuts in May hits 106 percent

"Compliance with a deal to cut global oil output was the highest in May since OPEC and non-OPEC producers agreed on the curbs last year, reaching 106 percent last month, one source familiar with the matter said on Tuesday.

OPEC compliance with the output curbs in May was 108 percent, while non-OPEC compliance was 100 percent, the source said. Another source confirmed compliance by all producers in May was 106 percent.

A joint technical committee of OPEC and non-OPEC producers met in Vienna on Tuesday to monitor compliance with the pact."

[url=https://www.reuters.com/article/us-oil-opec-compliance-idUSKBN19B28J?rpc=401&][/url]

(Reporting by Reuters OPEC team; editing by Susan Thomas)

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