An agreement to deepen oil production cuts by 500,000 bpd has put OPEC members at odds with each other as they try to hammer out the individual production quotas.
The additional cuts were announced yesterday, after a meeting of the monitoring committee that supervises the cuts. Yet at the time they were only a recommendation, and details had yet to be clarified. According to sources from the cartel who spoke to S&P Global Platts, the OPEC meeting that followed featured vocal disagreements and the walkout of the Angolan delegation at one point during the deliberations.
