OPEC and its allies on Thursday vowed to review the monitoring mechanisms of its output agreement at the Joint Ministerial Monitoring Committee meeting in Algiers on September 23 but said it sees the current oil market as largely balanced. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The JMMC, which is responsible for closely monitoring the market and recommending appropriate response measures, said in a statement that in Algiers “it will review the plan for monitoring overall market fundamentals and conformity levels for the remainder of 2018, as well as the framework of cooperation to be established in 2019 and beyond. The JMMC said it was satisfied that recent market fundamentals showed a “good balance between supply and demand considering seasonal factors.”Conformity levels of the participating countries was 109% in July compared to 121% in June, but still higher than what the alliance […]