OPEC+ oil output below target again in Oct as members cut more than agreed

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OPEC+ compliance with oil production cuts stood at 116% in October, up from 115% the previous month, internal data seen by Reuters showed, indicating the group continues to produce less than its agreed targets.

Compliance for participating OPEC members in the group rose from 115% in September to 121% in October, the highest since May, the data showed.

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Compliance for non-OPEC participating producers stood at 106% in October, down from 114% in September.

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