- Crude Oil Trading |
- February 7, 2017
The 10 OPEC countries that promised to reduce their production as part of the Nov. 30 deal have achieved a 91% compliance rate with the targeted cuts. Oil prices enjoyed a huge surge following the successful outcome of the OPEC deal at the end of 2016, but have stagnated since. If OPEC compliance starts to drop, it will probably do so with a backdrop of rising U.S. oil production.