OPEC+ produces below target in November as compliance rises

OPEC+ compliance with oil production cuts stood at 117% in November, up from 116% the previous month, two sources from the group told Reuters, indicating the group’s production levels continue to be below agreed targets.

Compliance from the 10 OPEC countries participating in the production cuts reached 122%, with participating non-OPEC countries achieving 107%, data seen by Reuters showed.