No compatible source was found for this media. Are Producers Complying With OPEC’s Output Cuts? Oil supplies from OPEC are plunging this month as the group implements production cuts aimed at erasing a global surplus, according to tanker-tracker Petro-Logistics SA . The Organization of Petroleum Exporting Countries will reduce supply by 900,000 barrels a day in January, the first month of the accord’s implementation, said the Geneva-based consultant. That’s equivalent to about 75 percent of the cut that the producer group agreed. Eleven non-members led by Russia are to curb their output in support. The data suggest “a high level of compliance thus far into the production curtailment agreement,” said Daniel Gerber, chief executive officer of Petro-Logistics, which has monitored tanker movements for more than three decades. The estimates are one of the first outside assessments of OPEC’s progress. Adherence to the accord is “great,” Saudi Arabia Energy Minister […]