Compliance to Agreed OPEC Reductions Continued Falling
OPEC'S production rose in July due to higher Libya and Nigeria production but compliance by members commotted to production cuts has also continued falling, says JBC Energy in a report.
OPEC's production for all members is up 200,000 barrels a day mainly due to a boost in Libyan output by 150,000 barrels a day and by 40,000 barrels a day in Nigeria. But some members committed to cuts also increased output with the United Arab Emirates inching up by 20,000 barrels a day, Saudi Arabia by 10,000 barrels a day and Qatar by 10,000 barrels a day. Compliance to agreed OPEC reductions has now fallen to 93%, according to Viennese energy consultancy, compared 94% in June.
--News from www.sinopecnews.com.cn
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