OPEC pared its crude oil production by 100,000 b/d in December, the latest S&P Global Platts survey finds, putting the bloc under its new, more-stringent quotas a month early. OPEC pumped 29.55 million b/d, according to the survey, with kingpin Saudi Arabia producing well below its cap as usual and compliance laggards Iraq and Nigeria improving their discipline. Now entering their fourth year of production cuts to prop up the oil market, OPEC, Russia, and nine other countries agreed last month to deepen their cuts to 1.7 million b/d — of which OPEC would shoulder 1.2 million b/d — from January to March. The 10 members with quotas under the accord, […]