A technical committee monitoring the implementation of the OPEC/non-OPEC production cuts has found that the allies achieved an 83-percent compliance with the pledged reduction, four delegates told Reuters on Wednesday. OPEC and a group of non-OPEC producers led by Russia decided in December to cut production by a total of 1.2 million bpd between January and June in a renewed effort to rebalance the market and drive oil prices up. OPEC’s Monthly Oil Market Report (MOMR) showed last week that the cartel’s crude oil production dropped…
