The OPEC+ coalition saw its overall compliance rate with the production cuts at around 101 percent in August, three sources in the group told Reuters on Wednesday, when OPEC+ panels start their monthly two-day meeting to take stock of the most recent oil market developments. The technical panel will meet later on Wednesday, while the Joint Ministerial Monitoring Committee (JMMC), co-chaired by the energy ministers of Saudi Arabia and Russia, is meeting on Thursday to assess compliance rates and possible actions. OPEC+ has given the laggards in compliance, such as Iraq, time until the end of September to additionally cut production on top of their share of the cuts, in order to offset the overproduction between May and July. The panel on Thursday could extend the period in which non-compliant members should compensate for their overproduction, other sources told Reuters earlier this week. Iraq has signaled that it could […]