Saudi Oil Attacks Send OPEC+ Compliance Soaring Past 200%

OPEC and its non-OPEC allies in the production cut deal achieved a compliance rate of more than 200 percent with their cuts in September, mainly due to last month’s attacks on vital oil infrastructure in OPEC’s largest producer Saudi Arabia, sources with knowledge of the matter told Reuters on Monday. Last month, Saudi Arabia witnessed an unprecedented attack on its oil infrastructure, which knocked 5.7 million bpd – or 5 percent of global oil supply – offline. Due to this attack, OPEC’s total production slumped by 1.318 million…