The UAE achieved 126% compliance with its OPEC+ quota in October, the energy ministry said late Nov. 17, as OPEC’s third-largest producer sought to compensate for overproduction in August. The country’s compliance since the cuts were implemented in May is 101%, the ministry said in a statement on the official WAM news agency. The UAE produced 2.44 million b/d in October, according to secondary sources quoted in OPEC’s November monthly oil report. The UAE’s quota is 2.59 million b/d. The UAE has implemented compensation cuts since it breached its OPEC+ quota in August, pumping 2.693 million b/d, 103,000 b/d above its quota then. UAE energy minister Suhail al-Mazrouei said the country needed to pump […]