The OPEC+ group’s compliance rate with the oil production cuts rose to 116 percent in October from 115 percent in September, as the alliance, especially the OPEC members in the pact, failed to pump to their collective quota, Reuters reported on Friday, quoting internal data it had seen. The ten OPEC members bound by the pact complied with their total share of the cuts at a massive 121 percent in October, up from a 115 percent compliance rate in September. The non-OPEC oil producers in the OPEC+ agreement saw their compliance fall to 106 percent last month, down from 114 percent in the previous month, according to the data seen by Reuters. The monthly OPEC report already showed last week that the cartel’s ten members in the OPEC+ agreement continued to struggle with reaching their collective ceiling. OPEC’s crude oil production rose by 217,000 barrels per day (bpd) to […]