OPEC+ compliance with oil cuts fell slightly to 115 per cent in September, sources said, indicating that as the alliance raises production targets, some members are still falling short as they face challenges in pumping more oil.
The Organisation of the Petroleum Exporting Countries and allies led by Russia, or OPEC+ as the alliance is known, raised its output targets by 400,000 barrels per day (bpd) in September.
It has also agreed to raise them by a further 400,000 bpd in October and in November.
Underinvestment and maintenance problems have stymied efforts by Angola and Nigeria to raise output, an issue that is expected to continue impacting the West African producers in the near future.
