OPEC+ tightens screws on quota busters, delaying deal on cut extension

摘要

London—Talks between OPEC and its allies have bogged down over quota compliance, holding up an apparent deal to extend the coalition’s landmark 9.7 million b/d production cuts beyond June for a month to speed the oil market’s recovery from the coronavirus pandemic. OPEC kingpin Saudi Arabia is insisting on firm commitments from other members to stick to their production quotas, and those who have violated their caps are being pressured to over-comply in the coming months to make up for their excess barrels, multiple sources involved in the discussions told S&P Global Platts.