OPEC+ oil output below target again in Oct as members cut more than agreed – sources

PUBLISHED: Fri, 19 Nov 2021 14:38:40 GMT
Ahmad Ghaddar and Olesya Astakhova
A 3D printed oil pump jack is seen in front of displayed stock graph and Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

LONDON, Nov 19 (Reuters) – OPEC+ compliance with oil production cuts stood at 116% in October, up from 115% the previous month, internal data seen by Reuters showed, indicating the group continues to produce less than its agreed targets.

Compliance for participating OPEC members in the group rose from 115% in September to 121% in October, the highest since May, the data showed.

Compliance for non-OPEC participating producers stood at 106% in October, down from 114% in September.

This is a developing story…

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