No compatible source was found for this media. OPEC’s work isn’t done yet. Oil traders and investors cheered Wednesday’s landmark deal to curtail oil production. But history shows compliance with past accords to be patchy at best. Even if countries stick to their output caps, those that won exemptions could make the collective target all but unreachable if they boost production. The difficulty of monitoring non-OPEC cuts adds a further layer of uncertainty. “You do have a problem with production compliance for sure,” said Olivier Jakob, managing director of Zug, Switzerland-based consultants Petromatrix GmbH. Rising output from Libya and Nigeria — both exempt from cuts — will push OPEC production beyond the quota next quarter, while “it will be very difficult to get 100 percent compliance from non-OPEC countries,” he said. The Organization of Petroleum Exporting Countries agreed to curb production to 32.5 million barrels a day, the lower […]