* OPEC cuts show 104 pct compliance with target in March
* Non-OPEC seen improving adherence with its share of cuts
* Official OPEC figures due for publication on Wednesday
By Rania El Gamal and Alex Lawler
DUBAI/LONDON, April 11 OPEC states cut oil
output in March by more than they pledged under supply curbs,
according to figures the exporter group uses to monitor its
supply, extending a record of higher-than-expected adherence to
its first production cut in eight years.
The Organization of the Petroleum Exporting Countries agreed
to cut output by about 1.2 million barrels per day (bpd) for six
months from Jan. 1 to prop up prices and reduce a glut.
Russia and 10 other non-OPEC states agreed to cut half as much.
Production from the 11 OPEC members with output targets
under the deal has averaged 29.757 million bpd, according to
average assessments of secondary sources OPEC uses to monitor
its output. The figures were seen by Reuters.
OPEC pledged to reduce output by the 11 countries to 29.804
million bpd. This means production has fallen by more than OPEC
said it would and amounts to 104 percent adherence to the supply
cut regime, according to an OPEC calculation.
"OPEC's compliance has been more than anticipated," an OPEC
delegate said. "For non-OPEC, it is satisfactory and getting
The supply cut is supporting oil prices which are
trading around $56 a barrel, up from $42 a year ago. But crude
is still half the level it was at in mid-2014, with high
inventories and rising U.S. production limiting gains.
Including Nigeria and Libya, the two members exempt from the
deal to cut supply, output by all 13 OPEC members in March fell
to 31.939 million bpd, two sources said. That would be down
19,000 bpd from OPEC's published February figure.
OPEC is scheduled to publish the assessment of March output
based on secondary sources in its monthly oil market report on
Wednesday. The figures could be revised before publication as
more secondary-source estimates are added, OPEC sources said.
The 11 non-OPEC producers that joined the deal have not cut
as much production, partly because of phased implementation of
the agreement by Russia, the largest non-OPEC producer that is
cooperating with the organisation.
But compliance by OPEC and non-OPEC together is expected to
rise in March from February's level of 94 percent, Kuwaiti Oil
Minister Essam al-Marzouq said on Monday.
OPEC uses two sets of figures to monitor its output --
figures provided by each country and those provided by secondary
sources that include industry media. This is a legacy of old
disputes over real production levels.
The production cut agreed last year was from levels as
assessed by the secondary sources.
The six secondary sources used by OPEC are the International
Energy Agency, oil-pricing agencies Platts and Argus, the U.S.
Energy Information Administration (EIA), consultancy Cambridge
Energy Research Associates (CERA) and industry newsletter
Petroleum Intelligence Weekly (PIW).
(Editing by Edmund Blair)