OPEC Secretary General Mohammad Barkindo said on Tuesday that OPEC and non-OPEC countries aim to agree a framework for long-term cooperation by December, when the oil producers plan to meet in Vienna, Reuters reports.
“Our determination is to institutionalise this cooperation and to get the permanent framework hopefully by December,” Barkindo told a news conference in Fujairah, in the UAE.
He also said that at a meeting in Algeria on Sept. 23, oil producers will discuss the best mechanism to adopt to ensure they reach 100 percent compliance with crude supply targets.