OPEC reports higher December output: report

Logo of OPEC

The Organization of the Petroleum Exporting Countries (OPEC), led by Saudi Arabia, recorded an increase in December oil output, but decreased in Libya and Nigeria, according to a Reuters survey.

OPEC pumped 27.80 million barrels per day (bpd) in December, the survey found, up 70,000 bpd from the previous month but short of the 253,000 bpd increase allowed under the supply deal.

Compliance with OPEC+ cut pledges rises to 127% in December, from 120% in November.