OPEC says compliance with OPEC+ deal at 122% in April

OPEC says compliance with OPEC+ deal at 122% in April
# 12 May 2021 10:58 (UTC +04:00)

The OPEC countries raised their oil production by 30,000 barrels per day on the month to 25.08 million barrels per day in April, setting its compliance with the OPEC+ oil output reduction deal at 122% in the month, OPEC said in a monthly report on Tuesday quoting secondary sources, APA reports citing Prime.

Compliance was again achieved mainly thanks to Saudi Arabia’s decision to cut output by 1 million barrels per day additionally, which the kingdom has been maintaining since February.

The global oil production decreased by 150,000 barrels per day on the month to 93.06 million barrels per day in April, with production outside OPEC falling by 180,000 barrels to 67.97 million barrels per day.

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