UAE Admits That OPEC+ Is Having Problems Increasing Oil Production

OilPrice.com: UAE: OPEC+ Struggles With Oil Production Hikes 

* OPEC+ is currently pumping 2.6 million barrels per day below its target. 

* Since OPEC+ started reversing last year the record cuts from April 2020, the group has been consistently struggling to meet its production quota. 

* OPEC+ compliance to production cuts has now increased to more than 200%. 

The OPEC+ group is currently pumping 2.6 million barrels per day (bpd) of oil below its target, and efforts to boost output per the monthly plans are "not encouraging," the energy minister of one of OPEC's top producers, the United Arab Emirates, said on Wednesday. "

According to last month's report, we have seen the conformity (to output cuts) of the OPEC+ group and the conformity was more than 200%," the UAE's Energy Minister Suhail al-Mazrouei said at an energy conference in Jordan as carried by Reuters.  

Read more ....  

WNU Editor: Everyone I know in europe is expecting this .... IEA: Europe Could See Energy Rationing This Winter (OilPrice.com).