OPEC+ statement: Important for all countries to reach full conformity with output cuts

Author: Justin Low | Category: News

OPEC+ releases its statement after today's meeting


  • Compliance reached 136% in August
  • Non-compliant countries have pledged to achieve 100% compliance
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Essentially, that can be read as nothing of real importance was actually discussed in Abu Dhabi today. Talk of achieving full compliance among those who aren't playing ball sounds good, but I just don't see how OPEC can enforce anything in that regard.

As mentioned earlier, this is one of those ideas/proposals that sound great on paper but is a nightmare in terms of execution.

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