OPEC+ Compliance With Production Cuts Slips To 75%

OPEC+ group’s compliance with the oil production cuts fell to 75 percent in December 2020—one of the lowest levels since the pact was enacted in May 2020, tanker tracking firm Petro-Logistics said on Tuesday. According to the company’s estimates, even the leader of OPEC and the world’s top oil exporter, Saudi Arabia, saw its compliance decline by 10 percentage points to 92 percent last month. The ten OPEC members part of the OPEC+ pact complied at 82 percent with the production cuts in December, with compliance slipping…