OPEC Members Are Being Forced To Compensate For Missed Targets ...Middle East

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OPEC Members Are Being Forced To Compensate For Missed Targets
source : OILPRICE ( Middle East ) () 6
Angola is set to cut 261,000 barrels per day (bpd) from its reference 2018 oil production in January as part of the OPEC+ pact, setting its production quota slightly above the current ceiling, the Angola Press Agency ANGOP reports. Angola’s current oil production quota is set at 1.249 million bpd, as per the OPEC+ pact agreed in April. For May and June, when the deepest OPEC+ cuts were in force, Angola had to pump no more than 1.18 million bpd. The cut of 261,000 bpd from the reference production of 1.528 million bpd gives Angola a ceiling…

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