IEA: compliance with OPEC+ deal at 121% for OPEC in Sept, 37% for non-OPEC
Compliance with the OPEC+ oil production cut deal was 121% for the OPEC signatories to the deal in September and 37% for the non-OPEC signatories.
OPEC produced 32.78 million barrels per day in September, up 100,000 bpd and the highest this year.
The IEA said that Saudi Arabia, Libya, Nigeria and the UAE fully compensated for production losses in Venezuela and Iran.
The agency said that oil supply on the market could rise further which could undermine free capacity and make the market vulnerable in the case of major disruptions in certain countries.