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Commodities

OPEC+ compliance with oil cuts rises to 113% in February, sources say

FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic

LONDON (Reuters) - OPEC+ compliance with oil production cuts in February rose to 113%, two OPEC+ sources from the producer group told Reuters on Monday.

The figure compares with a January compliance figure of 103%.

Compliance from members of the Organization of the Petroleum Exporting Countries reached 124%, a figure which includes the additional voluntary cut from Saudi Arabia, said one of the sources.

Compliance from non-OPEC members in the alliance reached 94%, the source added.

Reporting by Ahmad Ghaddar; Editing by Susan Fenton

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