The OPEC+ group of producers complied at 103 percent with the oil output cuts in January, higher than the estimated compliance in December, Argus reports , citing three delegates from the alliance. In December 2020, the OPEC+ coalition saw its overall compliance with the original production adjustments at 101 percent , OPEC said at the end of the February monthly meeting of the OPEC+ panels. This compliance level is “reinforcing the trend of high compliance by Participating Countries,” OPEC said. According to Argus’ sources, in January 2021, the ten OPEC members bound by the pact achieved 108-percent compliance, while the non-OPEC group of producers, led by Russia, complied with the cuts at 95 percent, up from 93 percent in December. The OPEC+ panels estimate compliance rates by averaging the production estimates of six independent secondary sources, including Argus. Argus itself pegs the January compliance of OPEC+ at 104 percent, […]