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OPEC+ compliance with oil production cuts in October seen at 101%

OPEC+ is due to meet next on Nov. 30 and Dec. 1, following a high-level ministerial meeting on Tuesday

OPEC

Photo: Bloomberg

Reuters LONDON/DUBAI
LONDON/DUBAI (Reuters) - The compliance of OPEC+ with oil production cuts in October was seen at 101%, three OPEC+ sources told Reuters on Friday, maintaining a strong level of adherence to their supply-cut pact.
The compliance assessment will be reviewed and confirmed by a meeting of the OPEC+ Joint Technical Committee on Monday, one of the sources said.
The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+, are scheduled to increase output by 2 million barrels per day from January, but are considering adjusting the deal to further support the market.
 
OPEC+ is due to meet next on Nov. 30 and Dec. 1, following a high-level ministerial meeting on Tuesday.
 
(Reporting by Rania el Gamal, Ahmad Ghaddar and Alex Lawler; writing by Maher Chmaytelli. Editing by Jane Merriman and David Evans)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Nov 13 2020 | 8:21 PM IST

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