15 Sep 2020 11:44

OPEC+ deal compliance was 97% in Aug, Russia's compliance estimated at 98% - IEA

MOSCOW. Sept 15 (Interfax) - Compliance of OPEC+ countries with the deal to reduce oil production came to 97% in August, the International Energy Agency (IEA) said in its monthly report.

OPEC countries fulfilled 95% of their commitments, and non-OPEC countries - 100%.

The agency estimates Russia's compliance at 98%.

At the same time, the United Arab Emirates produced 520,000 barrels per day more than required under the OPEC+ deal in August, fulfilling its commitments by just 10%.

Global oil supply grew by 1.1 million bpd to 91.7 million bpd in August.