OGJ Newsletter

01/21/2002
Market MovementOPEC quota compliance takes dive…OPEC's 82% quota compliance for December marked a 5 percentage point drop from levels in November. The fall could place further tension on an already strained agreement among OPEC and non-OPEC countries to cut production starting Jan. 1 in an effort to buoy sinking oil prices."We expect compliance with new quotas will be a struggle," said Tyler Dann, analyst with Bank of America Securities, in a research note. "We expect 'real' production cuts vs. November levels to be only 0.7-0.8 million b/d from OPEC and 0.3-0.4 million b/d from non-OPEC." Click here to enlarge imageThe deterioration in quota compliance among OPEC memb...
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