Platts on oil: OPEC is producing far below what it said it would
An overnight piece from Platts on OPEC.
Analysts at the firm note that many OPEC members did not hit their increased quota in September
- the coalition is producing far below what it said it would
- 19 members with production quotas under the OPEC+ supply accord were a combined 570,000 b/d below their allocations for the month, bringing compliance to 111.5%.
- The shortfalls have contributed to what many analysts say is a tight market.
Also from overnight:
Oil chart from that post: