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What will be the compliance level with OPEC+ production cuts by the end of Q1 2025?
2
Resolution / Starting Odds
Above 90% • 25%
Between 80% and 90% • 25%
Between 70% and 80% • 25%
Below 70% • 25%
Reports from OPEC or reputable industry analysts
Story
OPEC+ Delays December Oil Output Increase by One Month in Second Postponement
Nov 3, 2024, 03:53 PM
OPEC+ has reached an agreement to delay the planned December oil output increase by one month. This decision comes in response to weak oil prices and a fragile economic outlook. The delay extends the voluntary production cuts of 2.2 million barrels per day by countries including Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman until the end of December 2024. This move marks the second postponement of the output hike, initially postponed from September to December. The agreement aims to support oil prices, which have been under pressure due to uncertainty from the Chinese economy and other global factors.
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Similar markets
Fully compliant • 25%
Mostly compliant (within 5% deviation) • 25%
Partially compliant (within 10% deviation) • 25%
Non-compliant (more than 10% deviation) • 25%
Iraq • 33%
Russia • 33%
Kazakhstan • 33%
Less than 50% • 25%
50% to 75% • 25%
75% to 100% • 25%
100% • 25%
Increase • 25%
Decrease • 25%
Remain the same • 25%
No data available • 25%
Less than 3 million bpd • 25%
3 - 3.65 million bpd • 25%
3.65 - 4 million bpd • 25%
More than 4 million bpd • 25%
Below 40 million bpd • 25%
40-41 million bpd • 25%
41-42 million bpd • 25%
Above 42 million bpd • 25%
Increase production • 25%
Maintain current levels • 25%
Decrease production • 25%
No decision made • 25%
Agree to increase production • 25%
Agree to decrease production • 25%
Agree to maintain current levels • 25%
No consensus reached • 25%