The Organization of Petroleum Exporting Countries (OPEC) has a compliance rate with their output cut pledges of about 86 percent, Fatih Birol, the executive director of the International Energy Agency (IEA), said on Tuesday. Ruben Sprich “Their compliance is about 86 percent, higher than in the past… whether or not they will continue with this plan in November it’s up to them,” Birol told Reuters on the sidelines of the World Knowledge Forum in Seoul. “If they do so, we may see, sometime next year, a rebalancing of the markets, as we still see a significant amount of stock in the markets which is higher than historical averages.” OPEC and other producers including Russia agreed to cut their production by around […]