Commodities

OPEC+ Laggards Have Presented Plans on Compensatory Oil Cuts

Countries exceeding quota by several hundred thousand barrels
Group to decide on second-half extension at June 1 meeting

Oil Above $100 a Barrel 'Extraordinarily High' Odds: Jeff Currie | The Pulse Commodities Special

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By Grant Smith and Nariman Gizitdinov

April 30, 2024 at 11:22 AM UTC

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The OPEC+ laggards who promised extra oil production cuts to make up for flouting quotas have presented plans for delivering them.

Iraq and Kazakhstan agreed to submit plans by April 30 explaining how they’d compensate for pumping several hundred thousand barrels a day above the targets agreed to at the start of the year. Those schedules have been sent.