Report: OPEC+ Oil Output Cuts Compliance at 101 Pct

Friday, November 13, 2020

 The compliance of OPEC+ with oil production cuts in October was seen at 101%, three OPEC+ sources told Reuters on Friday, maintaining a strong level of adherence to their supply-cut pact.

The compliance assessment will be reviewed and confirmed by a meeting of the OPEC+ Joint Technical Committee on Monday, one of the sources said.

The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+, are scheduled to increase output by 2 million barrels per day from January but are considering adjusting the deal to further support the market.

OPEC+ is due to meet next on Nov. 30 and Dec. 1, following a high-level ministerial meeting on Tuesday.

(Reporting by Rania el Gamal, Ahmad Ghaddar, and Alex Lawler; writing by Maher Chmaytelli. Editing by Jane Merriman and David Evans)

Categories: Energy Middle East Activity Europe Oil Production South America Asia

Related Stories

Woodside to Shed Some Trinidad and Tobago Assets for $206M

CNOOC Starts Production at Two New Oil and Gas Projects

All Gas from Conrad’s Mako Field to be Sold to Indonesia’s PLN

Shell Launches Next Phase of Malaysia's Deepwater Project with First Oil Production

Valeura Wraps Up Infill Drilling Campaign in Gulf of Thailand

Six New Gas Wells in Line for BP’s Shah Deniz Field in Caspian Sea

China's CNOOC Aims for Record Oil and Gas Production in 2025

CNOOC’s South China Sea Oil Field Goes On Stream

ADES’ Fourth Suspended Jack-Up Rig Gets Work Offshore Thailand

Saipem’s Castorone Vessel on Its Way to Türkiye’s Largest Gas Field

Current News

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

Mitigate SCC & HE to Keep Offshore Metal Structures Ship Shape

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Sunda Energy Starts Environmental Consultation for Chuditch-2 Well Drilling Plans

Pakistan’s OGDC to Start Production at ADNOC’s Offshore Block by 2027

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com