OPEC+ Under Produces Quota Despite Calls For More Oil

The OPEC+ group saw its overall compliance with the collective oil production cuts at 115 percent in September, a delegate told Argus on Monday, down from the 116-percent compliance in August, but still higher than the market had hoped, with some members of the alliance failing to ramp up production in line with their quotas. The high compliance rate despite the monthly easing of the cuts by 400,000 bpd from the OPEC+ group suggests that not all members of the pact are capable of raising supply as quickly as their quotas under the deal stipulate.…