Mass Media: OPEC+ compliance with pledged cuts in February was 121%

Mass Media: OPEC+ compliance with pledged cuts in February was 121%
  • Clock-gray 17:55
  • calendar-gray 01 March 2021

Compliance with pledged cuts in February was 121%, the survey found, up from 103% in January, APA-Economics reports citing Reuters.

“So far, the members of the alliance have been cooperating and implementing the cuts in exemplary fashion,” said analyst Eugen Weinberg at Commerzbank.

“We believe that the high prices will prompt OPEC+ to step up its production by 500,000 barrels per day, while at the same time withdrawing Saudi Arabia’s additional production cut.”

Emil Ismayilov

Other news