In October, OPEC+ compliance with its oil output cut pact went up, signaling that the members continue to produce less than its agreed targets.
Last month’s compliance for the Organization of the Petroleum Exporting Countries and its allies (OPEC+) was at 116%, up from 115% in September, according to internal data seen by Reuters.
For OPEC members, the compliance surged to 121% in October from the previous month’s 115%. It was the highest level since May.
For the non-OPEC member, the compliance level slipped instead to 106% from 114% in September.
