INSIGHT INTERACTIVE: ICIS assesses the impact of the global crude oil supply pact

Source: ICIS News


By Julien Mathonniere

LONDON (ICIS)--One year ago, OPEC confounded the sceptics and agreed to the first supply cuts in eight years, reaching an agreement to curb oil production to 32.5m bbl/day.

The November 2016 agreement also included non-OPEC producers like Russia.

Twelve months on, ICIS takes stock of the cutbacks to assess the effectiveness of the supply pact.

OPEC members are due to meet again in Vienna on 30 November to decide whether to extend the supply pact, which expires next March.

Throughout the months, compliance levels have improved even if on average, OPEC producers have proved more compliant than their non-OPEC counterparts.

Browse through the interactive graphic below for the latest on OPEC’s supply agreement and how effective the deal has been at curbing the global oil glut.

Open the graphic to Full Screen to access the data pages most effectively.