OPEC+ compliance with output cuts decline 75% in December – Reuters

The compliance of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC+, with oil output curbs declined to 75% in December, Reuters reported on Tuesday, citing tanker tracker Petro-Logistics.

Market reaction

Market participants showed no immediate reaction to this headline. The barrel of West Texas Intermediate (WTI), which climbed to its highest level in more than 10 months at $53.23 earlier in the session, was last seen trading at $52.95, up 1.5% on a daily basis.