OPEC+ Compliance With Cuts At 101% Ahead Of Crucial Meetings

The OPEC+ group complied 101 percent with the oil production cuts in October, keeping a high level of conformity ahead of the crucial meetings over the next two weeks, which will decide if the alliance will reverse course on easing the cuts given the worsening demand outlook. The compliance last month has been estimated at 101 percent, three sources at OPEC+ told Reuters on Friday. This assessment is subject to official review by the Joint Technical Committee (JTC) of OPEC+, which is meeting on Monday, November 16, a day before the monthly meeting…