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Re: Doubledown75 post# 1607

Tuesday, 05/02/2017 2:45:20 PM

Tuesday, May 02, 2017 2:45:20 PM

OPEC deepens production cuts as compliance improves

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.

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