OPEC achieves 98.5% of agreed cuts in January & February (Platts)

06 / MAR / 2017

By Platts

OPEC in February moved closer to full compliance with the landmark production cut agreement signed late last year, as output in the month fell from January levels to average 32.03 million b/d, according to an S&P Global Platts survey released Monday.

In all, taking an average of January and February production, the 10 members obligated to reduce output under the deal have achieved 98.5% of their total combined cuts, according to the survey, up from 91% in January.

(Read the Platts report here)

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