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

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Turkey Discovers New Black Sea Gas Reserve

Indonesia's Medco Starts Production at Natuna Sea Fields

EnQuest Bags Two Production Sharing Contracts off Indonesia

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

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

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

Current News

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

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