Nigeria, April 4 -- The Organisation of Petroleum Exporting Countries (OPEC) and its allies on Wednesday agreed to keep oil output policy unchanged until its next meeting in June.

OPEC disclosed this at its 53rd Joint Ministerial Monitoring Committee (JMMC) meeting, a statement released by the organisation said.

The oil cartel explained that the JMMC reviewed the crude oil production data for January and February 2024 and noted the high conformity for participating OPEC and non-OPEC countries of the Declaration of Cooperation (DoC).

It said the committee welcomed the Republic of Iraq and the Republic of Kazakhstan's pledge to achieve full conformity as well as compensate for overproduction. The committee also welcomed the announcement ...