OPEC+ compliance with oil cuts slips to 115% in September, sources say

  • 10/18/2021
  • 00:00
  • 9
  • 0
  • 0
news-picture

LONDON: OPEC+ compliance with oil cuts fell slightly to 115 percent in September, three sources from the alliance told Reuters on Monday. The figure shows that some members continue to struggle to produce at their agreed quota levels due to various technical problems. The Organization of the Petroleum Exporting Countries and allies led by Russia, or OPEC+ as the alliance is known, raised its output targets by 400,000 barrels per day in September. It has also agreed to raise them by a further 400,000 bpd in October and in November. Underinvestment and maintenance problems have stymied efforts by Angola and Nigeria to raise output, an issue that is expected to continue impacting the West African producers in the near future.

مشاركة :