OPEC+ Misses Target Again, Members Struggle to Raise Oil Output

Underinvestment and maintenance problems have slowed down efforts by Angola and Nigeria to pump more.

Reuters

OPEC+ compliance with oil cuts fell slightly to 115% in September, sources said, indicating that as the alliance raises production targets, some members are still falling short as they face challenges in pumping more oil.

The Organization of the Petroleum Exporting Countries and allies led by Russia, or OPEC+ as the alliance is known, raised its output targets by 400,000 barrels per day (bpd) in September.

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