OPEC+ compliance with output cuts reached 159% in March - IEA

OPEC+ compliance with output cuts reached 159% in March - IEA
# 13 April 2022 12:38 (UTC +04:00)

The OPEC+ alliance's compliance with the oil output cut deal reached 159% in March, the International Energy Agency (IEA) said in its monthly report on Wednesday, APA-Economics reports.

"In March, output from the alliance's 19 members with quotas was up by a mere 40 kb/d, far below the planned 400 kb/d increase, and 1.

5 mb/d below their target," the report said.

In total, the OPEC+ alliance's compliance reached 159%, with OPEC countries' compliance amounting to 157% and non-OPEC ones' to 162%.

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