OPEC+ Meeting Ends Without Recommendation For Further Cuts

The OPEC+ technical committee that met today did not make any additional recommendations for further production cuts, focusing instead on members who are failing to adhere to the current agreement, OPEC+ sources told Hart Energy. Another purpose of the meeting was to review the impact of the cut. OPEC’s second-largest producer, Iraq, is also historically the least compliant member of OPEC+. Nevertheless, even Iraq has made significant cuts in its crude oil exports this time around. Exports from Iraq fell by 300,000 barrels per day (bpd),…