OPEC+ Countries' Compliance With Oil Output Cut Deal Reached 103% in January - Source
OPEC+ countries' compliance deal to cut oil production reached 103 percent in January, a source in one of the alliance's delegations told Sputnik
MOSCOW (Pakistan Point News / Sputnik - 02nd March, 2021) OPEC+ countries' compliance deal to cut oil production reached 103 percent in January, a source in one of the alliance's delegations told Sputnik.
"The total percentage of the deal's execution in January is 105 percent, including Mexico, and 103 percent without it," he said, referring to the results of the OPEC+ technical committee meeting on Tuesday.
Mexico is a member of OPEC+ and cut production in May-June, but from July on, the country has no formal obligations under the alliance's agreement.