BAKU, Azerbaijan, Sept.14
By Leman Zeynalova – Trend:
Nigeria came in first in terms of compliance with OPEC+ deal in August 2021 with 253 percent, Trend reports with reference to the International Energy Agency (IEA).
Nigeria’s August 2021 supply stood at 1.24 million barrels per day (mbd), while the OPEC+ deal target for the country for this period stood at 1.60 million barrels per day.
The table below shows the overall ranking of OPEC+ countries for August 2021:
|
OPEC+ member |
Compliance (in percent) |
|
Nigeria |
253 |
|
Angola |
204 |
|
Kazakhstan |
196 |
|
Equatorial Guinea |
169 |
|
Congo |
159 |
|
Azerbaijan |
134 |
|
Oman |
113 |
|
Kuwait |
103 |
|
Saudi Arabia |
103 |
|
Algeria |
101 |
|
UAE |
99 |
|
Iraq |
98 |
|
Russia |
92 |
Bahrain, Brunei, Malaysia, Sudan and South Sudan together had a compliance level of 172 percent in August 2021, while Gabon was 13 percent below the target.
Mexico was excluded from OPEC+ compliance. It only cut in May, June 2020. Iran, Libya and Venezuela are exempt from the deal.
At the 20th OPEC and non-OPEC Ministerial Meeting (ONOMM), held Sept.1 2021, the sides reconfirmed the production adjustment plan and the monthly production adjustment mechanism approved at the 19th ONOMM and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of October 2021.
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