OPEC Overcomplies With Oil Output Reduction Deal By 15% In October - IEA

OPEC Overcomplies With Oil Output Reduction Deal by 15% in October - IEA

The Organization of the Petroleum Exporting Countries (OPEC) complied with the deal on oil output cuts by 115 percent, non-OPEC countries by 103 percent, the International Energy Agency said Friday in its monthly report

MOSCOW (Pakistan Point News / Sputnik - 15th November, 2019) The Organization of the Petroleum Exporting Countries (OPEC) complied with the deal on oil output cuts by 115 percent, non-OPEC countries by 103 percent, the International Energy Agency said Friday in its monthly report.

In September, OPEC countries' compliance was at 142 percent.

According to the report, OPEC oil production in October rebounded, following a dip caused by a September attack on Saudi oil facilities.

Russia complied with the deal by 81 percent in October against 72 percent in September, the IEA said.