Web Desk March 17, 2021

The compliance of the OPEC+ alliance with the oil cuts agreement last month stood at 112 percent with the OPEC members in the deal achieving compliance of 125 percent, the International Energy Agency (IEA) said in a report on Wednesday, APA-Economics reports.


OPEC countries implemented the agreement by 125%, while non-OPEC countries by 89%. Russia implemented its obligation under the agreement by 93%.


According to IEA forecasts, in February of this year, OPEC reduced oil production amounted 21.73 mln. barrels. This indicator in non-OPEC countries was 14.7 mln. barrels.


Source: Azeri-Press News Agency

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