LONDON Feb 10 OPEC has delivered over 90
percent of pledged oil output curbs in January, according to
figures the exporter group uses to monitor its supply, making a
strong start in implementing its first production cut in eight
The Organization of the Petroleum Exporting Countries is
cutting its crude output by about 1.2 million barrels per day
(bpd) from Jan. 1 to prop up oil prices and reduce a
Supply from the 11 OPEC members with production targets
under the deal in January has fallen to 29.921 million bpd,
according to the average assessments of the six secondary
sources OPEC uses to monitor its output seen by Reuters.
This amounts to 92 percent compliance, according to an OPEC
Compliance of 92 percent comfortably exceeds the initial 60
percent achieved when OPEC's previous deal to cut was
implemented in 2009, and the OPEC figures add to indications
that adherence so far has been high.
OPEC is scheduled to publish its first assessment of January
production based on the secondary-source figures in its monthly
oil market report on Monday. The figures could be revised before
they are published, sources said.
(Reporting by OPEC team, editing by Susan Thomas)