OPEC+ Compliance Increases in January

Oil

Compliance amongst the OPEC+ group came to 103% in January, up from 99% in December, according to OPEC+ delegates, reports Argus. Members of OPEC 10 achieved 108% compliance with their agreed output cuts last month compared to 103% in December while the non-OPEC producers in the group increased their compliance to 95% from 93%. There is an OPEC+ meeting planned for next week when a decision is due to be made about quotas beyond March.