The OPEC+ complied with the oil production cuts deal by 114 percent in April, OPEC nations' compliance totaled 126 percent, while non-OPEC complied with the deal by 90 percent and Russia complied by 91 percent, the International Energy Agency (IEA) said on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 12th May, 2021) The OPEC+ complied with the oil production cuts deal by 114 percent in April, OPEC nations' compliance totaled 126 percent, while non-OPEC complied with the deal by 90 percent and Russia complied by 91 percent, the International Energy Agency (IEA) said on Wednesday.
"Saudi Arabia stuck with its extra voluntary reduction for a third month running in April, which kept overall OPEC+ compliance with supply cuts strong at 114%," IEA said in its fresh oil market report.
"Russia, for a second straight month, raised output the most - lifting flows to the highest in a year. Russian production was pegged at 9.52 mb/d, up 180 kb/d m-o-m and 140 kb/d above its higher April target. That puts its compliance at 91%," IEA continued.
