OPEC+ compliance with oil cuts rises in August, say sources

Logo of OPEC

OPEC+ compliance with oil production cuts rose to 116% in August from 109% in July, Reuters reported, citing two familiar sources.

On Sept. 17, Ministry of Energy of Kazakhstan said that the country is 206% committed to the OPEC+ agreement to reduce production.

The oil bloc, which includes 23 countries, agreed to add 400,000 barrels per day of production per month with the recovery of the global economy.