The OPEC+ group of producers raised their compliance with the ongoing collective production cuts to 116 percent in August, up from 109 percent compliance in July, sources from the alliance told Reuters on Tuesday. The OPEC cartel saw its crude oil production rise by 150,000 barrels per day (bpd) in August, data from secondary sources in the monthly report showed.
Even at higher quotas, the 10 OPEC members part of the OPEC+ pact pumped less than estimated by tanker tracking surveys and less than the OPEC overall quota in the agreement. Total…OPEC+ Boosts Compliance With Oil Production Cuts To 116%
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