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OPEC deepens production cuts as compliance improves

Published 05/02/2017, 09:39 AM
© Reuters.  OPEC deepens production cuts as compliance improves
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  • OPEC deepened production cuts in April.
  • Output fell by 40,000 barrels a day from a month earlier to 31.895 million barrels, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data.
  • The drop came as Iraq, the second-biggest producer in the group, and Venezuela came closer to their targets.
  • Among the 10 members bound by the caps, compliance strengthened to 102% from 89% in March.
  • Source: Bloomberg
  • ETFs: USO, OIL, UCO, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, DWT, OILK, OILX, USOI, UWT, WTID, WTIU
  • Now read: Longs Giving Up Hope In Ill-Fated Crude Oil Trade


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