OPEC Drops U.S. EIA as a Secondary Source Assessing Oil Production

OPEC is dropping the U.S. Energy Information Administration (EIA) as a secondary source to assess crude oil production of the OPEC+ countries and their compliance with the group’s output cuts, the cartel said after a panel meeting on Monday. After thorough analysis from the OPEC Secretariat, the Joint Ministerial Monitoring Committee (JMMC) replaced consultancy Rystad Energy and the EIA with Kpler, OilX, and ESAI, as part of the secondary sources used to assess the crude oil production and compliance, OPEC said. The move is effective from…