The countries participating in the OPEC+ agreement reduced oil production in August, taking into account all voluntary production cuts, by 61,000 barrels per day (bpd), to 35.548 million bpd, as follows from the data presented in the September OPEC report, APA reports citing TASS.
This is excluding Libya, Iran and Venezuela, which are exempt from the deal.
Taking into account all voluntary restrictions and compensation schedules provided for August, OPEC+ countries were supposed to produce 35.473 million bpd. Thus, the alliance produced 75,000 bpd above plan.
In August, Iraq deviated the most from the OPEC+ oil production plan - the country produced 228,000 bpd more than planned, although it cut production by 50,000 bpd.
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