The OPEC+ coalition saw its compliance rate with the oil production cuts at 95 percent in July, four sources from the group told Reuters on Monday, which is a level similar to the previous month, if the additional one-month voluntary cuts from Saudi Arabia, the UAE, and Kuwait for June are excluded. The 95-percent compliance rate for July has yet to be ratified by the Joint Technical Committee (JTC) of the OPEC+ group, which is meeting later on Monday. The volatile oil market and the highly uncertain trajectory of global demand recovery has forced the OPEC+ group to have the JTC and Joint Ministerial Monitoring Committee (JMMC) hold meetings every month until the end of 2020, instead of ahead of every full OPEC+ meeting only. The JTC and the JMMC are meeting this week, but they will not be discussing any revisions of the ongoing production cut pact and […]