The cumulative excess production of the OPEC+ group has risen to 3 million barrels per day (bpd) through February, up from a cumulative excess production of 2.8 million bpd in January, Reuters reported on Tuesday, citing data from the Joint Technical Committee (JTC) meeting today. The excess production totaled 2.7 million bpd in December 2020, according to the data seen by Reuters. The compliance with the cuts of the ten OPEC members bound by the OPEC+ pact stood at 124 percent in February, while the compliance rate from the Russia-led non-OPEC group in the alliance was at 94 percent, Amena Bakr, Deputy Bureau Chief & Chief OPEC Correspondent at Energy Intelligence, tweeted on Tuesday. This makes overall compliance for the OPEC+ group 113 percent in February, Bakr added. The meeting of the Joint Technical Committee (JTC) on Tuesday kicks off the monthly meetings of the OPEC+ group and will […]