IEA: Russia complies with OPEC+ oil output cut deal 96% in July

MOSCOW, Aug 13 (PRIME) -- Russia’s oil production rose by 10,000 barrels per day to 8.6 million barrels per day, in July, meaning that the country’s compliance with the OPEC+ oil output reduction deal amounted to 96%, the International Energy Agency (IEA) said in a report on Thursday.

The OPEC+ states jointly complied with the deal by 89%.

The agency has increased its assessment of a global demand fall in 2020 to 8.1 million barrels per day from 7.9 million barrels per day, and currently sees demand at 91.2 million barrels per day in the year. The 2021 oil demand growth forecast was reduced by 240,000 barrels per day to 97.1 million barrels per day.

End