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Thursday, 3 August 2017

OPEC supply-cut compliance runs up against ire over country targets

OPEC supply-cut compliance runs up against ire over country targets:

"OPEC has delivered record-high adherence to its oil output-cutting pact so far in 2017, but with laggards Iraq and the UAE yet to show how they can meet their prescribed targets, sources say a refocusing on exports may be the key to further progress. The two major producers have shown relatively low compliance with the agreement based on figures from secondary sources - government agencies, consultants and industry media - that OPEC uses to monitor its output. Both countries stress their commitment to the deal, aimed at draining global oil inventories and lifting crude prices out of a three-year slump."



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